Class 8 Truck Market: 2023 Year in Review
2023 was a dynamic year for Class 8 truck sales, building off a strong base of 309,615 units sold in 2022. Despite challenges, including supply chain constraints and fluctuating demand, Class 8 orders remained resilient. Key highlights include:
- Order Activity: Orders softened mid-year but recovered by year-end, stabilizing with a slight increase overall.
- Production & Backlog: High production rates continued to reduce backlogs, which fell to 152,608 units by August, despite a seasonal order lull.
- Challenges: Top-line production challenges persisted due to economic pressures and weaker carrier profitability.
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ACT's commercial vehicle forecast provides the best information available on how Class 8 truck sales are likely to change in the future.