Transport Topics Magazine
Orders for Class 8 vehicles kept accelerating in February, passing 40,000 for only the ninth time, analysts said.
North American orders of heavy-duty trucks hit 40,600, which was the eighth-best order month on record, ACT Research Co. reported, citing preliminary figures it will revise when truck makers issue their final numbers.
February was up 82% compared with the 22,300 units ordered a year earlier. Orders have been above 35,000 for four of the past five months and January’s total was the second-highest ever, 48,700.
“Yet another better-than-expected month. It makes life rather interesting,” said ACT Vice President Steve Tam.
Expectations were for orders in the “low-30s range,” Credit Suisse analyst Jamie Cook wrote in a note to investors.
Small and mid-sized fleets continue to add trucks and feel they will be able to steal drivers from other fleets, Tam said, while the large fleets continue to maintain they are not adding trucks to grow, just for replacement.
The up cycle that is most comparable to the one the industry finds itself in now occurred in 2014 to 2015, he said... To Continue Reading, CLICK HERE