Truck Demand Rebounds
Both medium-duty and heavy-duty truck orders rebounded in October, according to information from ACT Research, the Indiana-based analyst covering the North American and Chinese commercial vehicle markets. According to the company’s latest State of the Industry report, net orders rose 35% year over year for medium-duty trucks and Class 8 also saw a significant increase.
"With housing related activity surprising on the high-side the past several months, MD truck orders rose to their highest level since the start of the cycle," said Kenny Vieth, ACT’s president and senior analyst. "Net orders rose to 19,285 units, up 35% month to month and year to year." October also saw Class 8 orders rise meaningfully above trend as net orders rose to 23,431 units.
"Underscoring the increase in activity was the fact that the improvement occurred in the face of electoral and fiscal uncertainty and despite Hurricane Sandy disrupting business up and down the East Coast at month’s end," Vieth said.