ACT: Freight Rate Improvements Power Spike in June Class 8 Net Orders
JUL 6, 2020 - 6:44 am
According to ACT Research, preliminary North American Class 8 net orders in June were 16,000 units, rising 139% from May and 23% compared with June 2019. The North American Classes 5-7 market experienced an improvement in orders of 77% month-over-month despite being down 20% from the year-ago June volume. Complete industry data for June, including final order numbers, will be published by ACT Research in mid-July.
“Preliminary data show that June orders for medium and heavy duty vehicles jumped to a four-month high, rising above the combined April and May order tally,” Kenny Vieth, president and senior analyst for ACT Research, said. “On the back of a rapid improvement in freight rates over the course of May and June, North American Class 8 net orders spiked in June and were up against an easy year-ago comparison, when orders were under pressure from still large backlogs and rising equipment overcapacity. June is typically a slower order month, so seasonal adjustment augments the rebound.”
Regarding the medium-duty market, Vieth said, “Preliminary data here also show a four-month high and seasonal adjustment provides a lift to June’s Classes 5-7 orders.”
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