Preliminary North America Class 8 truck net order data show the industry booked 10,800 units in May, dropping 27 percent from April, but down a more significant 70 percent from year-ago May, according to ACT Research. These numbers are preliminary and complete industry data for May, including final order numbers, will be published by ACT Research in mid-June.
“Fraying freight market and rate conditions along with a still-large Class 8 order backlog contributed to the worst NA Class 8 net order performance since July of 2016,” said Kenny Vieth, ACT’s President and Senior Analyst. “May saw NA Class 8 orders fall below the 15,900 units averaged through the year’s first trimester, and year-to-date Class 8 net orders have contracted 64 percent compared to the first five months of 2018.”
Regarding the medium duty market, Vieth said, “While the US manufacturing/freight economy has been droopy since late 2018, the medium-duty market continues to benefit from the underlying strength in the consumer economy. In May, NA Classes 5-7 net orders were 19,300 units, down 21 percent year-over-year and 19 percent from April. One has to look back 22 months to find a weaker medium-duty order month on an actual basis or just two months when looking at the data on a seasonally adjusted basis.”
To read the full report, visit https://content.actresearch.net/blog/act-research-na-medium-and-heavy-duty-volumes-softened-in-may