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’s preliminary data.
May’s order intake also rose 4.3% from the 24,831 placed in April.
“It’s nice to see the continued momentum,” said ACT Vice President Steve Tam, who added that May’s total was above the firm’s expectations.
“We’re starting to hear dealers and even carriers talk about fleet expansion,” he said. “They’re whispering when they say it, but nonetheless, we’re starting to depart from replacement only. Any growth is going to be cautious, but I think we’re to that point.”
Last month’s 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’s 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.