Truck orders remained strong in December with net Class 8 orders at 43,620 units, the third consecutive month above 40,000, according to the latest data from FTR. Class 8 truck orders for the year equaled 375,000 units, the second best year in history, behind only 2004.
December truck orders differed from previous months by being spread out broadly among many OEMs with nearly all manufacturers showing increases from November. FTR believes this is a good indicator of an overall vibrant truck market.
The end of 2014 saw many fleets ordering trucks in advance for 2015 anticipating tighter truck production. Class 8 orders in the fourth quarter of 2014 were exceeded historically only by the first quarter of 2006.
“The market momentum is now feeding on itself with orders once again exceeding expectations in December,” said Don Ake, FTR vice president of commercial vehicles. “Reports are that more than 75% of the larger fleets have their 2015 orders booked.”
Some of the orders placed this year may be moved out further or even cancelled, he added.
“For now the industry is very bullish on the 2015 truck market,” said Ake.