In November, Class 8 truck orders experienced a robust 32% month-on-month increase, reaching 36,750 units. Compared to the same period last year, the growth stands at 3%, in line with anticipated seasonal patterns and a prior year-over-year dip observed in October, according to industry expert FTR. The cumulative orders for the preceding 12 months now stand at 2.55 lakh units.
While this surge falls slightly short of ACT Research’s preliminary estimate of 41,700 units, the year-on-year uptick in orders indicates a market aiming to maintain historically high performance levels, as noted by FTR. Board Chairman Eric Starks highlighted a more unified market for Original Equipment Manufacturers (OEMs) in November compared to October, with most experiencing increased orders.
“Despite prolonged weakness in the overall freight market, fleets remain eager to invest in new equipment,” Starks emphasized. ACT Research also noted that November marked the best month since October 2022, reinforcing expectations for replacement demand in 2024.
Meanwhile, Bharat Forge, an Indian company with a stake in North America’s Class 8 truck business, has witnessed a remarkable 33% stock increase in 2023. As of 12:12 pm, shares were trading at ₹1,163.45.
