COLUMBUS, Ind. – January’s heavy-duty orders were relatively weak, according to ACT Research‘s latest State of the Industry: NA Classes 5-8 report. It remains to be seen whether this represents a pause after robust year-end orders or the beginning of a broader pullback in demand. However, both HD and medium-duty seasonally adjusted retail sales were robust.
“Heavy-duty retail sales rose 29% year-over-year to 29,200 units (23,765 nominal),” said Eric Crawford, Vice President and Senior Analyst at ACT Research.
Crawford also stated that the 1,389 unit-per-day (UPD) rate was 22.9% higher than the year-ago rate, 15.5% higher than the full-year 2022 average, and up 4.5% month-over-month.
He further noted that retail sales for classes 5-7 rose 6.1% year-over-year to 20,800 units (17,669 nominal), with a 993 UPD rate that was 1.0% higher than the year-ago rate, 10.3% higher than the sales rate averaged throughout 2022, and up 15.1% month-over-month.
“Business activity in the truck industry rolls on, with retail sales seemingly unfazed by higher interest rates, as pent-up demand remains, for now,” Crawford said. “We expect this dynamic to shift in the second half of 2023, as the Fed continues its aggressive push to subdue inflation.”
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.