Class 8 truck orders trended down in December, FTR and ACT Research reported Wednesday.
FTR reported preliminary truck orders of 26,620 units; ACT Research's preliminary estimate was 26,500 units. These totals were substantial drops from November. FTR says its preliminary order total was down 26% from November and 6% year over year. It says orders for the previous 12 months have been 253,000 units, with recent run rates being even stronger — annualized over the past six months to 302,000 units and 362,000 units over the past three months.
“Despite the slight year-over-year decrease in orders in December, the market is still performing at a high level historically,” says FTR Chairman Eric Starks. “Even as the freight markets have been weak for an extended period, fleets are still ordering equipment. Order levels were above the historical average but continue to follow seasonal trends, reinforcing our expectations for replacement demand in 2024.”
[RELATED: What's to come for the parts and service business in 2024?]
