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Preliminary North American Class 8 Net Orders Rose in August to 39,400 Units

Preliminary North American Class 8 net orders for August rose 51% from July to 39,400 units. The August 2021 activity was +91% y/y with Class 8 orders now totaling 456,000 units for the previous 12 months.

The increase in orders came as OEMs began taking more orders for 2022. However, OEMs remain cautious about fully booking all 2022 orders, as price negotiations continue with numerous fleets. Additionally, they are still having difficulty scheduling production in the first quarter due to continuing uncertainties with the supply chain.

Don Ake-1

Don Ake

VP of Commercial Vehicles

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Don Ake commented, “Ordering has commenced for 2022 deliveries, but at a much more measured pace than expected. Fleets have wanted to place their 2022 orders for months. They are in desperate need of trucks presently and with the freight market being so robust, anticipate that build slots will again be scarce next year. OEMs, on the other hand, have been reluctant to open their order boards due to high commodity prices and supply chain uncertainties.

“Demand for Class 8 trucks will be huge in 2022 due to growing freight markets and pent-up demand left over from 2021. Orders will be substantial from August until the end of the year. However, there could be wide fluctuations from month to month because the OEMs are being deliberate in how they manage and slot the orders.

“The supply chain is still impacting the entire industry and Class 8 orders are no exception. It’s difficult to know how many trucks you can produce in the first quarter when many components, and especially semiconductors, are in short supply. Once commodity costs stabilize and the supply chain gets into balance, orders will soar, and build rates will jump.”

 

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DerekYoung_400pxDerek Young is the Business Development Manager at FTR and is a great resource for anyone interested in learning about FTR products and services. Contact Derek to learn more about how FTR can support your business needs. 

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