BLOOMINGTON, Ind. — FTR is reporting North American Class 8 truck/tractor preliminary net orders skyrocketing 47% month over month and 159% year over year to 47,200 units.
It’s the highest order total since September 2022 and the third straight month of 20%+ y/y order growth. The result was also well above the 10-year February average of 24,991 units. While the on-highway market made up the bulk of the increase, both on-highway and vocational markets contributed significantly to the m/m and y/y growth in orders. Orders have totaled 258,466 units over the last 12 months, according to FTR.
“February’s very solid y/y increase in net orders extended the firmer tone that has been building since late last year,” said Dan Moyer, senior analyst, commercial vehicles. “While a portion of demand still reflects previously deferred replacement purchases reentering the market, the consistency and breadth of recent order activity suggest momentum is now being driven more meaningfully by improving freight fundamentals.”
2026 Order Season Up Slightly
The 2026 order season (September 2025-February 2026) is now up slightly at 4% y/y growth, a notable improvement from the double-digit declines earlier in the cycle. The steady narrowing of the y/y deficit in recent months and strengthening freight conditions suggest that the market is not only stabilizing but also transitioning into the early stages of a cyclical recovery, according to FTR.
“Freight volumes and utilization are trending higher, and FTR’s rate forecasts have strengthened,” Moyer said. “Also, improved clarity around tariff-adjusted pricing and EPA 2027 NOx regulations is reducing policy-related hesitation and giving fleets greater confidence to advance capital plans. Order patterns increasingly suggest a structured replacement cycle and forward-looking fleet planning rather than short-term catch-up buying, underscoring healthier underlying demand.”
Risks Still Persist
According to FTR, risks persist, including the durability of the freight recovery, still-high financing costs, the potential for tariff or regulatory shifts, and – especially – geopolitical risks such as the new conflict in the Middle East. However, aside from those risks, the sustained and increasingly freight-driven strength in orders reinforces the case that underlying demand is firming more decisively as 2026 progresses.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
