Truck manufacturers expressed optimism for the business when recently ACT Research Co. reported that New Class 8 truck orders have climbed 30.2% in February. That’s the strongest three-month hike in almost eight years. The overall conclusion was that the industry is picking up and it’s showing new type of confidence.
February saw preliminary net orders total of 29,200, which was not expected. The high numbers were due to tight freight capacity and the slow revival of the economy.
The orders last month surpassed those in February 2013 by 22,432 placed orders.
Put in better perspective, however, the trucks ordered from December 2013 through February 2014 were 95,455 – the strongest since January through March 2006. Then fleets needed to order trucks for delivery prior to the 2007 federal emission standards.
“As we’re moving forward, truckers are becoming more confident in the economy, and they’re starting to act on that,” ACT vice president Steve Tam said. “They’re starting to feel that capacity crunch, and they don’t want to get left behind. They want to get into the game and make sure they have the equipment they need to participate to the best of their ability.”
Read the full story at Transport Topics.