"The improvement in orders comes on the heels of the recovery in consumer spending, strong housing data, and rising consumer confidence," said Kenny Vieth, president and senior analyst at ACT Research. "Considering that the election and fiscal cliff were squarely in the windshield through October, order strength was perhaps even more impressive than the numbers suggest. The improvement in orders in October is recognition that with even a small amount of economic comfort, there is positive underlying demand for commercial vehicles in the North American market."
Across-the-board strength in truck, bus and RV orders boosted Classes 5-7 orders to a 56-month high. Seasonally adjusted, October's Classes 5-7 net order volume drops to 17,200 units. On that basis, Classes 5-7 net orders were at their highest level since April 2011. Class 8 net orders also rose to their highest level since the start of the year on both an actual and seasonally adjusted basis. Seasonally adjusted, the volume was 22,900 units.
ACT is a publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, as well as the China CV market.
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