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 FTR Reports Preliminary North American Class 8 Net Orders for February at 25,700 Units

FTR reported that Class 8 preliminary net orders for February came in at 25,700 units, down 9% from January but up 11% y/y. This order number is consistent with recent demand trends and is above seasonal expectations.  Orders for the past 12 months have totaled 263,700 units.

Concerns of a rapid easing of demand in 2024 are not coming to fruition nor is the market doing significantly better than replacement level orders. After peaking last November at 36,000 units, orders have stabilized at a level roughly 10,000 units lower over the last three months. 

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Eric Starks

Chairman of the Board

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 Eric Starks commented, “Build slots continue to be filled at a reasonable rate. With February orders coming in at a rate that was comparable to December 2023, the market is still performing at a solid level. It was a mixed market for OEMs this month with some seeing increases and others seeing decreases in orders. Despite the weakness in the freight markets that has persisted for more than a year, fleets continue to be willing to order new equipment. Order levels were above the historical average and above seasonal trends, but our expectations for replacement output by the end of this year remain unchanged.

Forecasting Class 8 Truck Demand