FTR: Class 8 orders up another 5% in February

Net orders for North American Class 8 trucks totaled 22,900 units in February 2017, up 5 percent from the previous month and 28 percent from the previous year, according to freight transportation analyst FTR.    Net orders for North American Class 8 trucks totaled 22,900 units in February 2017, according to the latest figures from freight transportation analyst FTR.
   The “solid” February order activity was up 5 percent compared with the previous month and 28 percent from the same 2016 period, the firm said.
   Class 8 truck orders totaled 164,000 units in 2016, and according to FTR, orders for the past three months now annualize to 263,000 units.
   Steady order growth that began in November has now pushed backlogs over 100,000 units for the first time rinse June 2016, and FTR said current volumes “should enable production to hit or exceed Q2 forecasts.”
   “February was another very encouraging month for Class 8 truck orders,” FTR Vice President of Commercial Vehicles Don Ake said in a statement. “Orders have increased for four straight months, indicating the market is making a solid recovery after the second-half slump in 2016.
   “This order cycle is much flatter and longer than usual, but this is a healthy order total for a February,” he added. “March orders may not decline that much. This is what a turning point looks like.
   “Freight is starting to pick again after sagging some in 2016. Rates are climbing and fleets are feeling much more confident about business going forward. Truck builds and sales should now begin a modest upturn which should continue throughout this year,” said Ake.