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Truck Orders Up in May
Orders for Class 8 commercial vehicles increased 84 percent in May versus a year ago, according to ACT Research Co.
Kenny Vieth, partner and senior analyst with ACT, said, “For a third consecutive month, the Class 8 data were solid from top to bottom in May. With strong freight growth continuing to absorb excess capacity, trucker profits should soon follow. While there are still hurdles to clear, including used equipment prices and credit availability, the pendulum is swinging in favor of new truck demand.”
The report, State of the Industry: Class 5-8 Vehicles, reported 13,231 orders for Class 8 vehicles. Over half the orders were scheduled for delivery in the third quarter, indicating that fleets want to get the trucks on the road prior to the fall shipping season.
A press release on the report can be found at the ACT website.