According to the results of the March State of the Industry Report from ACT Research, Class 8 orders dropped 10% month-over-month and 35% year-over-year in March, to a total of 16,354 units. Medium duty net orders totaled 13,242, down 3% from February, but up 10% year-over-year.

“Medium and heavy demand trends continue to follow the sectors of the economy that drive their respective cycles,” said Kenny Vieth, ACT’s president and senior analyst. “For medium duty vehicles, the consumer economy continues to produce good outcomes as job and income growth support healthy demand for big-ticket durable goods and housing. For Class 8, there are too many trucks chasing insufficient freight. Low prices across the commodity spectrum have rolled back investment, cutting demand for machinery. In addition, the strength of the U.S. dollar has made U.S. manufactured goods less competitive in global markets.”

Vieth added that the March net order volume for Class 8 was lower than it has been seen since late 2012.