Report: Class 8 Truck Orders Dip in December

Class 8 truck orders ended the year on a three-month downturn, but one report said overall activity remains healthy. 

30,600 of the trucks were ordered in December, according to a Jan. 17 ACT Research report. That’s a slight downtick from November’s sales number of 32,600, but it constitutes a 7,000 unit increase from December 2021 numbers. 

The report characterized total year-end ordering activity (September to December) as being a “strong 159,000.” September had the most sales of the year with almost 54,000 Class 8 trucks ordered. 

“For now, business activity in the truck industry rolls on, also seemingly unfazed by higher interest rates, as pent-up demand remains for now,” stated Eric Crawford, ACT vice president and senior analyst. “We expect this dynamic to shift in [2023], as the Fed continues its aggressive push to subdue inflation. Although there have been recent signs of inflation slowing, we do not expect the Fed to begin cutting rates in 2023.” 

The report also touched on retail sales, noting that Class 8 sales in that category rose 19 percent year-over-year to “an all-time record 34,415 units.” Overall, ACT reported 309,615 retail sales in 2022.