Heavy truck orders defy economic doom and gloom

North American Class 8 net orders rose to 23,600 units, a gain of 55% year-over-year and 12% month-over-month, ACT reported in its latest State of the Industry report.

Classes 5-7 orders were up 8% month-over-month.

"Given the steady drumbeat of bad economic news in July and August, and the retrenchment of consumer confidence, we would have understood if commercial vehicle order activity waned through the balance of Q3, but it didn't," said Kenny Vieth, president and senior analyst at ACT. "Class 8 build so far this year stands at more than 180,000 units. Years of deferred purchases are buoying up demand."