August Class 8 Orders Rebound; Medium Duty Orders Up 10% M/M

According to the latest preliminary data released by ACT Research for the month of August, new Class 8 vehicle orders rebounded to 14,200, up 37% from July. For Classes 5-7, 16,900 new vehicle orders were booked, a 10% month-over-month increase.

“After a weak June and a dismal July, Class 8 orders rebounded in August to 14,200 units, or nearly 16,000 units on a seasonally adjusted basis,” said Kenny Vieth, ACT’s president and senior analyst. “While rising 37% from July, August demand failed to meet the year-ago order volume for an 18th consecutive month, falling 29% from August 2015.”

“Moving past the seasonally soft early summer, Classes 5-7 orders rebounded to a three-month high 16,900 units in August,” said Vieth. “Despite rising 10% from July, orders failed to reach year-ago levels for a third time in the past four months, dropping 5% from year-ago August.”

Vieth said that seasonal adjustment does not dispel the notion that MD vehicle demand has moderated: “With a neutral factor, seasonal adjustment left the August order number unchanged at 16,900 units.”

Despite slower orders in recent months, MD Classes 5-7 net orders are running 3% ahead of year-ago order levels through year-to-date August. Year to date, Classes 5-7 net orders have been booked at an annualized rate just over 231,000 units.

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