2022 sees 159,000 Class 8 truck orders in final months
24 January 2023
ACT Research has released the final figures for 2022’s Class 8 commercial vehicle orders, and reported that the year-end ordering activity (from September to December) finished with a strong 159,000 units.
Class 8 retail sales alone set a record with 34,415 units in December 2022, good for a 19% increase year over year, according to Eric Crawford, ACT Research vice president and senior analyst. The year’s strong finish capped 2022 with 309,615 retail sales.
“For now, business activity in the truck industry rolls on, also seemingly unphased by higher interest rates, as pent-up demand remains for now,” Crawford said. “We expect this dynamic to shift in 2023 as the Fed continues its aggressive push to subdue inflation. Although there have been recent signs of inflation slowing, we do not expect the Fed to begin cutting rates in 2023.”
Conversely, December 2022 orders for vehicles in Classes 5-7 decreased by 3% year over year to 17,464 units (down 21% month over month). Retail sales for Classes 5-7 in 2022’s final frame rose 3.6% year over year to approximately 19,000 units, with the full-year retail sales for those classes at 229,821 units.
ACT Research is a global publisher of commercial vehicle truck, trailer and bus industry data, as well as market analysis and forecasts for the North America and China markets.