Net orders for heavy-duty Class 8 commercial vehicles soared to 21,500 units in October, the highest level since January 2008, according to ACT Research Co..
In the latest release of the State of the Industry: Classes 5-8 Vehicles, ACT indicated Class 8 new orders were up across all three North American regions as well as exports. Medium-duty Class 5-7 net orders were also at their highest level of the year, up 50% from the prior year.
“The sharp spike in orders and the near-term placement of a majority of the orders is a clear indication of pre-buy activity in the United States and Canada,” said Kenny Vieth, partner and senior analyst with ACT. “Mexico and non-NAFTA export markets also had stronger orders, likely indicating increased confidence in the economic outlook.”