May Truck Orders Climb 14.2%
Class 8 truck sales climbed 14.2% in May from a year earlier, offering further evidence that the industry has begun to enter a growth cycle, ACT Research reported.
North American truck makers received about 25,900 net orders last month, up from 22,688 in May 2013, according to ACT鈥檚 preliminary data.
May鈥檚 order intake also rose 4.3% from the 24,831 placed in April.
鈥淚t鈥檚 nice to see the continued momentum,鈥 said ACT Vice President Steve Tam, who added that May鈥檚 total was above the firm鈥檚 expectations.
鈥淲e鈥檙e starting to hear dealers and even carriers talk about fleet expansion,鈥 he said. 鈥淭hey鈥檙e whispering when they say it, but nonetheless, we鈥檙e starting to depart from replacement only. Any growth is going to be cautious, but I think we鈥檙e to that point.鈥
Last month鈥檚 total also was the highest mark for May since manufacturers booked 29,397 orders in May 2006 during the pre-buy event prior to the implementation of the Environmental Protection Agency鈥檚 2007 emissions standards.
Through five months, 2014 orders stand at 141,984, up 25.3% from the 113,292 booked during the same timeframe last year.