Tax Breaks Fueled Record Year For Heavy Truck Orders But Will 2019 Be A Different Story?
Little Rock, Arkansas – 2018 finished as record year for heavy-duty truck orders with more than 490,000.
Truck makers saw a surge in orders at the beginning of 2018, according to ACT Research, and that carried 2018 to a record year for the trucking industry. 2018 orders broke the previous record set in 2004 by almost 100,000 orders.
“For all of 2018, Class 8 orders totaled 490,100 units, far outstripping the previous annual order tally set in 2004 at 390,000 units, with orders averaging 40,800 units/month last year,” said Kenny Vieth, ACT’s President and Senior Analyst.
Preliminary data for December shows a drop off in orders, but “in-line with expectations” according to ACT’s Veith. The industry booked 21,300 units in December, down 24% sequentially from November and 43% from year-ago December.
Keith said of the December slowdown, “Seasonal adjustment is always unkind to Class 8 orders in December, dropping the month’s volume to a 25-month low of 17,300 units.”