Net orders for heavy-duty Class 8 commercial vehicles spiked in May, marking the growing confidence among truck fleet owners that the U.S. economy is firmly on the rebound, causing steady increases in both freight demand and rates.
ACT Research Co. reported 13,231 net orders of Class 8 vehicles this past May an increase of 84% compared to the same month in 2009. Over half of the orders are scheduled for delivery in the third quarter, indicating truck fleets are looking to get new units on the road before the peak fall shipping season.
ACT also reported that net orders of medium-duty Class 5-7 equipment grew by 33% in May compared to the same month in 2009, boosting year-to-date growth to 18%.