A unexpectedly high cancellation rate kept North American Class 8 truck orders low in October, at 13,907 units, according to the latest data from ACT Research.
“The driving factor behind the weak net orders number was an unusually high level of cancellations booked in the month (8,610),” said Jim Meil, ACT Research principal and industry analyst. “The cancellations offset a total orders number of 22,517 that reflected, to some degree, the traditional strength of this kickoff month.”
Medium-duty truck orders remained strong, at 29,922 Classes 5-7 units.
“Medium-duty statistics continue to reflect the underlying health of the consumer and closely related segments of the economy: retail sales (especially online and parcel delivery), services and construction,” said Meil. “While this was a drop from September seasonally-adjusted results, it does sustain a year-to-date increase compared to the like 10 months in 2015.”