Class 8 net orders moved upward in November, following the weak, cancellation-heavy numbers reported last month, with new orders at 21,108 units and the net at 19,440 units.
“In addition to rising 40% from October, November marked the first positive y/y net order report in 22 months,” said Jim Meil, ACT Research Principal and Industry Analyst. “After spiking to a volume not seen since 1999, cancellation activity returned to trend levels in November at 1,668 units and a cancellation rate of 2% of the backlog.”
Speaking on Classes 5, 6, and 7, Meil noted, “The consumer side of the economy remains solid, and overall there is consistency in MD demand. That is why we think the subpar orders results reported for Classes 5-7 in November were an outlier. Specifically, Classes 5-7 net orders were 17,372 (17,300 SA)—about 1,700 under the 2016 year-to-date average.”