North American truck orders near record in 2020
By Mike Brezonick07 January 2021
While preliminary North American Class 8 net orders in December were 50,900 units, down 2% from November, they were 153% ahead of the same period of 2019, according to information from ACT Research’s monthly State of the Industry report.
North American Classes 5-7 demand, with orders at 35,100 units, rose 28% sequentially and 73% compared to last December. That order volume represents a second-best-ever volume, while the Class 8 net order intake marks the fourth highest level in history, ACT reported.
“The pandemic-impacted economy continues to play into the hands of trucking, as consumers continue to substitute spending on services with spending on goods, even as the manufacturing sector begins to ramp,” said Kenny Vieth, ACT’s president and senior analyst. “Simultaneously, the driver supply remains constrained and that supply-demand imbalance is reflected in rate data. With strong freight volumes, drivers in short supply, rates surging and carrier profits certain to follow, the precise recipe for surging new vehicle demand, which continued in December, is created.
Regarding the medium-duty market, Vieth noted, “There is a symbiotic relationship between heavy-duty freight rates and medium-duty demand. Clearly, the shift in consumer spending from experiences to goods has been good for the providers of local trucking services as e-commerce has grown by leaps and bounds during the pandemic.”
ACT Research is a global publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets.
More information can be found at www.actresearch.net.