Orders for Class 8 heavy trucks hit a six-month high in October, with manufacturers receiving 29,824 new orders and 28,026 net orders, according to ACT Research.
Those order numbers suggest 2011 will end with production at or above 250,000 units and set the stage for a robust 2012, the vehicle research firm said Friday.
“News from carriers is good,” said Kenny Vieth, president and senior analyst at ACT Research. “Expectations for future freight and profitability are upbeat.”
Net orders in October exceeded ACT’s initial projection of 27,700 units and followed strong net order growth in September, as truckers replaced older vehicles.
Truck maker Paccar reported the highest quarterly revenue in its history in the third quarter that ended Sept. 30, with revenue rising 68 percent to $4.26 billion.