According to preliminary numbers from ACT Research, in March, 37,700 new Classes 5-8 vehicle orders were booked. Class 8 garnered 16,000 orders and for Classes 5-7, 21,700 orders were placed.
“[Medium duty] and [heavy duty] demand, as mirrored by new order activity, remain on divergent paths that are tracking their niches in the broader economy,” said Kenny Vieth, ACT’s president and senior analyst. “In the case of MD demand, a decent jobs market and rising incomes continue to support discretionary spending and improved housing activity, but ongoing weakness in the freight-rich manufacturing sector and excessive inventories in the broader economy continue to weigh on new HD demand.
Vieth noted that Class 8 orders fell 37% year-over-year and 12% month-over-month in March and that an ongoing overcapacity narrative has resulted in a weak freight rate environment and excessive new vehicle stocks.
Final March numbers will be published in mid-April.
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