FTR released preliminary data showing January Class 8 truck net orders at 34,403, the second consecutive month with orders above 30K; and the first time back to back months have exceeded this mark since 2006. The combined order activity for December-January should allow truck builders to hit Q1 targets with possible increases in production in Q2 as forecasted by FTR.
January orders improved 56% year-over-year with an annualized rate of 347,500 units over the past three months. Preliminary order numbers are for all major North American OEMs (original equipment manufacturers).
Don Ake, FTR vice-president of commercial vehicles, says: “Orders were way beyond expectations. This is another great order month to kick-start 2014. Order strength was broad-based among manufactures and countries. This is a very positive signal for the industry. The strong orders are consistent with the tightening of capacity in the marketplace. Fleets and dealers continue to display confidence in the freight market.”