COLUMBUS, Ind. — December Class 8 net orders were healthy for 2022, bringing total year-end ordering activity to a strong 159,000 (September through December).
Units sold for 2022 equaled 309,615.
Classes 5-7 orders declined 3% year-over-year to 17,464 units (-21% month over month), with seasonal adjustment trimming orders to 16,100, according to ACT Research’s latest State of the Industry: NA Classes 5-8 report.
ACT’s State of the Industry: North American Classes 5-8 report provides a monthly look at the current production, sales and general state of the on-road heavy and medium duty commercial vehicle markets in North America. It differentiates market indicators by Class 5, Classes 6-7 chassis and Class 8 trucks and tractors, detailing measures such as backlog, build, inventory, new orders, cancellations, net orders and retail sales.
Additionally, Class 5 and Classes 6-7 are segmented by trucks, buses, RVs and step van configurations, while Class 8 is segmented by trucks and tractors with and without sleeper cabs.
This report includes a six-month industry build plan, backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first-look at preliminary net orders is also published in conjunction with this report.
“For now, business activity in the truck industry rolls on, also seemingly unphased by higher interest rates, as pent-up demand remains for now,” Eric Crawford, ACT Research’s vice president and senior analyst said. “We expect this dynamic to shift in 2H’23, as the Fed continues its aggressive push to subdue inflation. Although there have been recent signs of inflation slowing, we do not expect the Fed to begin cutting rates in 2023.”
Crawford said that Class 8 retail sales in December rose 19% year-over-year to a record 34,415 units.
“The strong finish to the year led to a total of 309,615 units sold in 2022.” Crawford said. “Classes 5-7 retail sales (SA) rose 3.6% year-over-year to 19,000 units. Full year retail sales were 229,821.”
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.