February was the fifth consecutive month in which Classes 5-8 medium duty and heavy duty orders rose above 50,000 units. Classes 5-8 vehicle orders were booked at 51,400, up 6 percent compared the February 2014 (±5%). While at their lowest level since September, February’s order volume annualizes to a 616k AR (622k SAAR) – meaningfully higher than current production forecast expectations for the industry in 2015. Note: these numbers are preliminary. Actual numbers will be released mid-March.
“The run of excellent new Class 8 order activity continued into February as 31,200 NA net orders were booked,” said Kenny Vieth, ACT’s president & senior analyst. “Up 7 percent compared to last year, February’s orders marked the twenty-fifth consecutive month of year-over-year gains in net orders. While February’s order volume qualifies as the weakest month in the past five, on a seasonally adjusted basis it also represents the ninth consecutive month of orders over 28,000 units (336k AR). However, there is a recognition that with the 2015 build schedule filling rapidly, it is unlikely that this string of excellence will remain unscathed by the time we get to late Q2,” he added.
Vieth said that medium duty orders have beaten year-ago results in five of the past six months including against a tough February comparison. Classes 5-7 net orders rose to 20,100 units in February, up 8 percent from January and 4 percent compared a year ago.
