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FTR Reports Preliminary North American Class 8 Net Orders Swell to 40,100 Units in October

11.03.20 | FTR



FTR reports preliminary North American Class 8 net orders soared in October to 40,100 units. This is the first 40,000+ unit month for Class 8 orders since October of 2018, adding to the already increased order activity from September. Orders were up 26% m/m and up 83% y/y. Class 8 orders for the past twelve months now stand at 215,000 units.

Fleets continue to order Class 8 trucks in large quantities for 2021 delivery.  The freight markets are holding up surprisingly well after coming out of the lockdown stage of the pandemic. Consumer retail sales remain vibrant, necessitating frequent restocking which has kept freight rates elevated, capacity tight, and generating the need for more trucks.

The hefty order volume in October indicates the market is beginning to return to its traditional order cycles. If the pace holds up, the fourth quarter of 2021 should look similar to the surge that took place in Q4 2014, although it won’t be quite as strong.  

Click here to view the latest release and an interactive graph of the Class 8 Truck Orders >


Don Ake, vice president of commercial vehicles for FTR commented, “September was the turning point for the Class 8 market. Fleets became much more confident about future freight demand and began placing large orders to replace older units and for expansion purposes, as capacity tightened. In just a few months, the industry has gone from fear, to hope, to optimism. It appears the industry has sluffed off the uncertainties about the pandemic for now.

“There is still some pent-up demand from the OEM shutdowns in March and April, but there is also widespread momentum generated after the economic restart that is continuing to build. Industrial freight is still lagging somewhat. If manufacturing starts to rebound, sales go even higher.”

Final data for October will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, email [email protected] or call (888) 988-1699 ext. 1.
 
 

To contact FTR, send an email to [email protected] or call (888) 988-1699 ext. 1 and follow us on Twitter @FTRintel.

The full Class 8 Truck data is available as part of FTR's North American Truck & Trailer Outlook service.


Click here to view a sample report >


About FTR
For more than 30 years, FTR has served as the industry leader in freight transportation forecasting for the shipping, trucking, rail, intermodal, equipment, and financial communities in North America. FTR’s experts, with over 250 years of combined experience in the transportation industry, provide quantitative analysis with historical and modal-specific insights. FTR’s reports, data, commentary, and insights help clients evaluate market risks, identify new opportunities, and make informed decisions.
 
FTR is the only company with a complete set of freight data for all modes of transportation with detail at the 3 Digit STCC commodity level. FTR tracks and forecasts 200+ unique commodity groups both quarterly and annually using their proprietary Freight•cast U.S. freight transportation model. FTR’s Transportation Conference held annually in September in Indianapolis is a unique event bringing together every aspect of the freight transportation world into one place. For more information www.FTRconference.com