Class 8 orders were up in November as compared to 2021 statistics, both ACT Research and FTR Transportation Intelligence said.
ACT showed preliminary Class 8 net orders in November at 33,000 units. FTR reported orders at 34,300, off of last month's 56,000-unit record but still well above 2021 activity.
[RELATED: FTR: Class 8 trailer orders above 44,000 units in October]
"Much of the year appears to have been slotted for production in 2023. That means further moderation of levels as we get into the new year," says FTR CEO and CIO Jonathan Starks. "The market remains strong despite the economic uncertainties, and production still will be limited to some extent by supply chains and labor."
Eric Crawford, ACT vice president and senior analyst, said that pent-up demand, carrier profitability and elevated fleet age is driving this year's orders.
"We continue to expect a freight recession and an eventual economic recession (mild to medium in magnitude), but OEMs at this point have clear visibility to a strong 1H'23 (barring any unforeseen cataclysmic events)," Crawford says.
Medium-duty orders were at 21,400, ACT reported.
"MD demand was solid, albeit against somewhat challenging comps," Crawford says. "Over the past 12 months, the MD market has seen 232,700 orders booked."
These are preliminary numbers from both companies. FTR and ACT will release finalized data in mid-December.
