Orders for Class 8 trucks in North America rose to about 29,000 in March, according to industry analysis and forecasting firms, more than 150 percent from a year ago.
ACT Research's preliminary figures were at 29,200 units in March, up 159 percent from one year ago and represented the largest monthly order intake since May 2006. FTR Associates put the number at 28,871, a 20 percent increase over February preliminary orders and a 155 percent increase over the same period in 2010.
March finished off a second consecutive quarter of elevated Class 8 demand, ACT notes. Orders were booked in excess of a 300,000-unit annualized rate from October to March. Industry backlogs, which fell just short of 100,000 units in February, likely rose by another 8,000 to 10,000 units in March.
FTR says the March order activity supports its recent increase in its 2011 projections for Class 8 truck sales.
"The first quarter has been very positive for incoming orders, with fleets placing orders primarily for replacement units due to aged equipment," said Eric Starks, president of FTR. "Orders for added capacity vehicles are few at the moment, with some fleets still looking for good drivers to fill current seats. Even in face of growing truck freight, driver supply constraints will continue to restrain plans to add capacity."
Another concern is whether the industry can meet the demand for new trucks.
"With the uptrend firmly established, the question for 2011 is now the industry's ability to meet demand, instead of whether demand would rise to expectations," said Kenny Vieth, president and senior analyst at ACT. "History shows that production always chases demand at the beginning of the cycle. Unlike orders, the industry needs to work in unison to raise production."
A number of truck makers and suppliers expressed concerns about this issue during last week's Mid-America Trucking Show, although they noted it was a better problem to have than the record low numbers of truck sales the industry has faced over the past couple of years.
ACT Research's preliminary figures were at 29,200 units in March, up 159 percent from one year ago and represented the largest monthly order intake since May 2006. FTR Associates put the number at 28,871, a 20 percent increase over February preliminary orders and a 155 percent increase over the same period in 2010.
March finished off a second consecutive quarter of elevated Class 8 demand, ACT notes. Orders were booked in excess of a 300,000-unit annualized rate from October to March. Industry backlogs, which fell just short of 100,000 units in February, likely rose by another 8,000 to 10,000 units in March.
FTR says the March order activity supports its recent increase in its 2011 projections for Class 8 truck sales.
"The first quarter has been very positive for incoming orders, with fleets placing orders primarily for replacement units due to aged equipment," said Eric Starks, president of FTR. "Orders for added capacity vehicles are few at the moment, with some fleets still looking for good drivers to fill current seats. Even in face of growing truck freight, driver supply constraints will continue to restrain plans to add capacity."
Another concern is whether the industry can meet the demand for new trucks.
"With the uptrend firmly established, the question for 2011 is now the industry's ability to meet demand, instead of whether demand would rise to expectations," said Kenny Vieth, president and senior analyst at ACT. "History shows that production always chases demand at the beginning of the cycle. Unlike orders, the industry needs to work in unison to raise production."
A number of truck makers and suppliers expressed concerns about this issue during last week's Mid-America Trucking Show, although they noted it was a better problem to have than the record low numbers of truck sales the industry has faced over the past couple of years.
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