January preliminary North America Class 8 net orders were 27,000 units, up 600 units from December and 45 percent from a year ago. Complete industry data for January, including final order numbers, will be published by ACT Research in mid-February.

“Weak freight and carrier profitability fundamentals, and large carriers guiding to lower capex in 2024, would imply some pressure in the NA Class 8 market’s largest segment, U.S. tractor,” said Kenny Vieth, ACT’s President and Senior Analyst. “While we do not yet have the underlying detail for January orders, Class 8 demand continuing at high levels at the start of 2024 suggests that over-the-road U.S. truckers are still buying.”

With the third largest seasonal factor of the year, 11 percent, seasonal adjustment pushes January’s Class 8 intake to 24,300 units (292k SAAR), up 17 percent from December.

He added, “NA Classes 5-7 net orders were 20,300 units in December, up 16 percent y/y. Unlike Class 8, MD seasonality is modestly positive in January, boosting the seasonally adjusted order tally to 20,800 units, down 21 percent m/m from a tough best-month-of-2023 December comp.”