While Class 8 orders in November fell well off September’s 56,000-unit record, the year is still recording gains compared to 2021 levels.
North American Class 8 orders in November fell to between 33,000 and 34,300 units, according to ACT Research and FTR reports, respectively. Orders were down 20% month over month, but up 254% year over year, FTR official said.
“Much of the year appears to have been slotted for production in 2023. That means further moderation of levels as we get into the new year,” said FTR CEO and Chief Intelligence Officer Jonathan Starks in a press release. “The market remains strong despite the economic uncertainties, and production still will be limited to some extent by supply chains and labor.”
Class 8 orders total 295,000 for the last 12 months.
“We continue to expect a freight recession, and an eventual economic recession (mild to medium in magnitude), but OEMs at this point have clear visibility to a strong [first half of 2023] (barring any unforeseen cataclysmic events),” predicts Eric Crawford, ACT’s vice president and senior analyst.