ACT forecasts a slight increase in total Class 8 retail sales for 2023, compared to the 309,615 units sold in 2022.
Class 8 Truck Sales Forecast Modestly Reduced in September
With economic and industry data points generally aligned with expectations, there was little change in this month’s vehicle forecasts.
Class 8 Truck Orders
Class 8 Truck Orders in August 2023Truck Order Backlog
On continued strong build rates and seasonally weak order volumes, the Class 8 backlog fell to 152,608 units in August.
Truck Order Cancellations
Class 8 cancellations increased to 2.5% of backlog in August, above the long-term average of 2%.
Trailer Shipments
While ACT Research tracks retail sales (RS) for trucks, or tractors, we track factory shipments (FS) for trailers.
More units built in August meant more equipment shipped. The 28k units leaving factories in August were about 14% above July's level.
Factors Affecting Class 8 Truck Sales
With top-side production constraints persisting, carrier profitability contracting, and the year getting shorter, misses from here will be harder to recoup and might indicate end-of-year slowing.
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ACT's commercial vehicle forecast provides the best information available on how Class 8 truck sales are likely to change in the future.