FTR Reports October North American Class 8 Orders at 22,100 Units

FTR reports preliminary North American Class 8 orders for October at 22,100 units, the highest level since November of 2018, but still far below a year ago. October 2019 order activity was the weakest performance for the month since 2016.

While October orders were the highest this year and up 79% m/m, they were 51% lower than October 2018, signifying a subdued beginning to the traditional start of the ordering season. The order level was boosted by a couple of big fleets placing large orders into 2020, but otherwise smaller orders were placed for the first quarter build. Cancellations are expected to remain elevated as OEM’s shake out excess 2019 orders from the backlog. Class 8 orders for the past 12 months have totaled 192,000 units.

Don Ake, Vice President Commercial Vehicles commented, “Orders increased in October as expected, however, caution prevails. The trade and political turmoil are producing a highly uncertain business environment. Fleets are only ordering for their immediate needs. They are not willing to speculate much beyond the first quarter of next year. The OEMs have plenty of open capacity right now, so carriers are willing to approach 2020 a step at a time.”

“The orders were fair in October. Freight growth is flat, as the industrial sector slows and manufacturing struggles a bit. Orders are expected to stay in this range for a few months until there is more confidence in the economy and less turbulence in the trade war and political arena.”

Final data for October will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, email  sales@ftrintel.com or call (888) 988-1699 ext. 1.

About FTR

For more than 30 years, FTR has served as the industry leader in freight transportation forecasting for the shipping, trucking, rail, intermodal, equipment, and financial communities in North America. FTR’s experts, with over 250 years of combined experience in the transportation industry, provide quantitative analysis with historical and modal-specific insights. FTR’s reports, data, commentary, and insights help clients evaluate market risks, identify new opportunities, and make informed decisions.

FTR is the only company with a complete set of freight data for all modes of transportation with detail at the 3 Digit STCC commodity level. FTR tracks and forecasts 200+ unique commodity groups both quarterly and annually using their proprietary Freight•cast U.S. freight transportation model. FTR’s Transportation Conference held annually in September in Indianapolis is a unique event bringing together every aspect of the freight transportation world into one place. For more information www.FTRconference.com

To learn more about FTR visit  www.FTRintel.com, Follow FTR on Twitter @FTRintel and connect on LinkedIn. To contact FTR, call 1-888-988-1699, or email FTR@FTRintel.com.