Class 5-8 Preliminary Net Orders Strengthen in October: ACT
Nov 5, 2012 12:24 PM
Class 5-7 preliminary net orders for October reached a 56-month high and Class 8 preliminary net orders were at their highest level since the start of the year, as reported by ACT Research Co., LLC.
The final numbers, which will be released mid-November, will approach 23,200 units for Class 8 trucks and 18,500 for Class 5-7. The preliminary net order numbers are typically accurate to within 5% of actual.
Seasonally adjusted, October’s Class 5-7 net order volume drops to 17,200 units. On that basis, Classes 5-7 net orders were at their highest level since April 2011. Class 8 net orders also rose to their highest level since the start of the year on both an actual and seasonally adjusted basis. Seasonally adjusted, the volume was 22,900 units.
“The improvement in orders comes on the heels of the recovery in consumer spending, strong housing data, and rising consumer confience,” said Kenny Vieth, president and senior analyst, ACT Research.
“Considering that the election and fiscal cliff were squarely in the windshield through October, order strength was perhaps even more impressive than the numbers suggest. The improvement in orders in October is recognition that with even a small amount of economic comfort, there is positive underlying demand for commercial vehicles in the North American market.”
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