August 3, 2017 11:30 AM, EDT

Class 8 Orders Surge 81% in July, Top 18,000

Orders Justin Ide/Bloomberg News

Class 8 orders rolled on in July, climbing 81% year-over-year in what is typically the slowest order month of the year, analysts said.

Orders hit 18,700, according to preliminary data from ACT Research Co., which will be updated as necessary later in the month. A year earlier, orders hit 10,358, ACT said.

Research firm FTR pegged preliminary Class 8 orders at 18,300.

“The market remains stable but is moving in a positive direction,” a company statement said. “This is consistent with the FTR forecast. Orders for the past 12 months total 224,000 units.”

Credit Suisse analyst Jamie Cook wrote in a note to investors, “Similar to previous months, the strength was largely broad based across [truck makers] with orders being propelled by small and medium fleets, and it appears that some incentivization is taking place in the market place.”