FTR Reports Preliminary North American Class 8 Net Orders for October at 28,000 Units; The Decline from September Had Been Anticipated
Bloomington, IN – (November 3, 2023) – FTR reported Class 8 orders for October at 28,000 units, down 10% from September and 35% from October 2022. The weaker comparisons were well within expectations given the weakness in freight transportation and the ongoing normalization of equipment markets following exceptional demand in 2022. Class 8 orders totaled 255,000 units over the past 12 months. The annualized rate over the past six months has been 233,000 units. The annualized rate over the past three months has been much stronger than the 12-month total, but that result is simply a function of the recent opening of 2024 production slots.
Eric Starks, chairman of the board, commented, “Build slots continue to be filled at a healthy rate. We expected a year-over-year decrease in orders and were not surprised by the month-over-month easing, either. The overall picture for truck demand is steady. Despite freight weakness, fleets continue to be willing to order new equipment, affirming our expectations of replacement demand during 2024.”
Preliminary orders may be estimated and are subject to revision when FTR releases final data mid-month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, email sales@ftrintel.com or call (888) 988-1699 ext. 1.
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
To learn more about FTR visit www.FTRintel.com. Follow us on Twitter @FTRintel and connect with us on LinkedIn! To contact FTR, call 888-988-1699 or email info@ftrintel.com