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Class 8 orders slow, but market still ‘historically’ high

Jan. 5, 2024
While freight demand cooled as 2023 progressed, it hasn’t stopped fleets from looking ahead, since replacement demand is expected to grow in 2024.

While freight markets cooled in 2023, it didn’t stop fleets from ordering new equipment last year, as the Class 8 market saw a historically high level of order-board action over the year's final months, according to preliminary numbers from commercial vehicle research firms. 

North American Class 8 orders fell during the typically slower December after a busy November for major truck OEMs. FTR Transportation Intelligence pegged December’s orders at 26,620 Class 8 vehicles, down 26% from the firm’s November figures and down 6% compared to December 2022. Preliminary figures from ACT Research put Class 8 orders at 26,500 units, down 15,000 from November. 

“After a strong and upside-surprising November, Class 8 orders surprised in the opposite direction in 2023’s last report,” said Kenny Vieth, ACT president and senior analyst. “With the largest seasonal factor of the year, seasonal adjustment pushes December’s intake sharply lower to 20,900 units."

ACT’s full-year 2023 Class 8 order tally was 278,500, down 7% compared to the busy 2022, when  lingering pandemic supply chain problems eased, allowing OEMs to take in more orders after limiting build slots at the start of the decade.


Read more at FleetOwner.com, a Bulk Transporter affiliate.

About the Author

Josh Fisher | Technology Editor