According to ACT Research, June preliminary North America Class 8 net orders were 14,800 units, down 37% month over month and 12% year over year.
“Even in good years, Q2 typically delivers below-trend orders, while Q4 orders can trigger optimism at the bottom of the cycle. With the long bottom in freight volumes and rates continuing in the most recent data from DAT amid lingering market overcapacity, for-hire carriers’ financial performance has been dismal,” Kenny Vieth, president and senior analyst of ACT Research, said. “Entering the historically worst time of the year for orders at the bottom of tractor buyers’ profitability cycle is producing results in line with expectations. At the same time, the brightest spot in the economy has been consumer services spending, helping to support steady medium-duty truck demand.”
“Reflecting underlying service sector strength, NA Classes 5-7 net orders were 19,000 units in June, down 1.6% month over month, but up an in-line 3.3% year over year,” Vieth said.
