Preliminary NA Class 8 net orders in October were 23,600 units, while NA Classes 5-7 net orders dropped to 21,900 units, both representing lower sequential and year-over-year readings. Complete industry data for October, including final order numbers, will be published by ACT Research in mid-November.

“Supply-side constraints continue to pressure new order activity,” said Kenny Vieth, ACT’s President and Senior Analyst. “With backlogs stretching into the second half of 2022 and still no clear visibility on the easing of the everything shortage, modest October order results suggest the OEMs are taking a more cautious approach, so as not to extend the cycle of customer expectations management.”

Vieth concluded, “Importantly, we reiterate, with critical economic and industry demand drivers at, or near, record levels, industry strength is exhibited in long backlog lead-times, rather than soft orders in October. In addition to ongoing strength in key freight-generating economic sectors and pent-up goods demand growing across a broad front, ACT’s preliminary read of the publicly traded TL carriers Q3 financial results shows net profits approaching best-ever levels.”