Saturday, January 28, 2023

US Class 8 orders stalled in November

According to FTR, even though orders are down, they are showing gains in 2021 against an underperforming market.

During November, orders for Class 8 trucks in the United States (EU) Sales reached 34,300 units, down from a record high of 56,000 in September And that represents a monthly decline of 20 percent.

However, according to data from FTR Transportation Intelligence Orders have decreased in the last two monthsShowing significant gains compared to the poor performance of the market last year.

In fact, as the firm highlighted in its monthly report, November order activity increased by 254% year-over-year.

It should be remembered that in November last year, US Class 8 truck orders drop to 9,500 unitsIts lowest figure since May 2020, at the height of the COVID-19 pandemic.

On this subject, FTR Executive Director and Director of Intelligence Jonathan Starks said that, Apparently most of the year is set for production in 2023This means there will be further easing of levels when the market heads into the new year.

The market remains strong despite economic uncertainties, and production will be somewhat constrained by supply chains and labor.”

Jonathan Starks.

Read: Uber Freight and Aurora expand autonomous driving pilot to Texas

According to FTR, Class 8 orders now total 295,000 over the past 12 months, down 24.9% compared to the same period between 2021 and 2020.

Regarding the November data, consulting firm ACT Research reported that although a slowdown in cargo demand and eventual economic slowdown is expected – of mild to moderate magnitude -, Original Equipment Manufacturers (OEMs) clearly have a strong first half of 2023.

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Nation World News Desk
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