Class 8 Orders Fall from Document Highs – Tools
North American Class 8 orders in November fell to between to 34,300 items.
Graph: FTR
Whereas Class 8 orders in November fell properly off September’s 56,000-unit report, the yr continues to be recording positive factors in comparison with 2021 ranges.
North American Class 8 orders in November fell to between 33,000 and 34,300 items, in keeping with ACT Analysis and FTR experiences, respectively. Orders have been down 20% month over month, however up 254% yr over yr, FTR official mentioned.
“A lot of the yr seems to have been slotted for manufacturing in 2023. Meaning additional moderation of ranges as we get into the brand new yr,” mentioned FTR CEO and Chief Intelligence Officer Jonathan Starks in a press launch. “The market stays sturdy regardless of the financial uncertainties, and manufacturing nonetheless will likely be restricted to some extent by provide chains and labor.”
Class 8 orders complete 295,000 for the final 12 months.
“We proceed to anticipate a freight recession, and an eventual financial recession (delicate to medium in magnitude), however OEMs at this level have clear visibility to a robust [first half of 2023] (barring any unexpected cataclysmic occasions),” predicts Eric Crawford, ACT’s vp and senior analyst.
