FTR Associates has released preliminary data showing February Class 8 truck total net orders of 22,243 units for all major North American OEM’s. February orders were 11% below January. This was the second consecutive month of negative month-over-month and year-over-year comparisons. February orders annualize to 266,900 units and fall within the average order rate for the past nine months.
Jonathan Starks, FTR’s Director of Transportation Analysis, comments, “Despite the drop in February, demand for new trucks remains robust as fleets continue to replace aging equipment. With the driver supply moderately tight and freight demand healthy, but not surging, fleets are likely to only add limited capacity to their truck fleet. Absent additional freight growth or regulatory hurdles, the new truck market in 2012 is unlikely to see the type of growth that we had in 2011.”
Final data for February will be available from FTR later in the month as part of its North American Commercial Truck and Trailer Outlook service.