COLUMBUS, Ind. – Orders for commercial vehicles dropped in January, according to preliminary data.
Preliminary North American Class 8 net orders in January were 21,300 units, while N.A. Classes 5-7 net orders dropped to 16,500 units.
Complete industry data for January, including final order numbers, will be published by ACT Research in mid-February.
“Constrained production capabilities and long backlogs continue to hamper new order activity. Order weakness continues to be primarily, if not entirely, due to supply-side shortages that continue to restrict production,” Kenny Vieth, ACT president and senior analyst, said. “As has been the case for months, we reiterate that with critical economic and industry demand drivers at, or near, record levels, industry strength should be measured by long backlog lead times, rather than tepid new order activity.”
Vieth concluded that for Class 8, with backlogs stretching through 2022 there’s still no clear visibility on the easing of the everything shortage. He said that January’s net order haul reflects the ongoing conservative approach by original equipment manufacturers looking to limit the risk of overbooking and underbuilding that plagued the industry in 2021.
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