FTR reported preliminary data showing October 2015 North American Class 8 truck net orders at 25,000, 30 percent above September, but below expectations.
As fleets finalize their equipment budgets for the coming year, October orders typically rise considerably; and although orders were at their highest level since February, they were down a substantial 45 percent year-over-year. Orders for the last 12 months are still an impressive 324,000.
Don Ake, FTR vice president of commercial vehicles, commented, “Fleets are being more cautious this year in their ordering, which is to be expected considering the weak GDP numbers and slower manufacturing growth. If November and December orders are in the same range, then 2016 production should meet expectations. Overall, backlog remains strong helping to keep the market propped up. On the other hand, there was an uneven distribution of these orders among the OEM’s, which unfortunately could result in upcoming production cuts at some plants being more than expected.”
Final data for October will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service.