Class 8 net truck orders remained strong in August, continuing a recent pattern, FTR reported. Don Ake, FTR vice president of commercial vehicles, though, cautioned that the order rate does not indicate as many positives as it did earlier this year.
“The strength of August orders was not broad-based; and the volume is not as positive as it appears because orders were driven, in part, by dealer incentive programs,” Ake said. “Regardless, business activity remained healthy in August and the Class 8 market is still robust coming out of the summer season. Order volume was consistent with the FTR forecast.”
FTR said that August orders came in at 24,947 units, a year-over-year increase of 29%. Class 8 orders have now had nineteen consecutive months with year-over-year increases. The August numbers are the strongest for that month since 2005, FTR said.
Class 8 orders for the latest six month period through August annualize to 316,000 units.