FTR Reports Preliminary North American Class 8 Net Orders for February at 25,700 Units
Bloomington, IN – (Trailer Technician) – FTR reported that Class 8 preliminary net orders for February came in at 25,700 units, down 9% from January but up 11% y/y. This order number is consistent with recent demand trends and is above seasonal expectations. Orders for the past 12 months have totaled 263,700 units.
Concerns of a rapid easing of demand in 2024 are not coming to fruition nor is the market doing significantly better than replacement level orders. After peaking last November at 36,000 units, orders have stabilized at a level roughly 10,000 units lower over the last three months.
Eric Starks, chairman of the board, commented, “Build slots continue to be filled at a reasonable rate. With February orders coming in at a rate that was comparable to December 2023, the market is still performing at a solid level. It was a mixed market for OEMs this month with some seeing increases and others seeing decreases in orders. Despite the weakness in the freight markets that has persisted for more than a year, fleets continue to be willing to order new equipment. Order levels were above the historical average and above seasonal trends, but our expectations for replacement output by the end of this year remain unchanged.”
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.