Class 8 Truck Orders Bounce Back in May with 10% Y/Y Increase
JUN 5, 2023 - 6:50 am
According to ACT Research, preliminary North American Class 8 net orders bounced back in May with 15,500 units, up 10% year over year and 29% month to month, while preliminary Classe 5-7 orders surged 27% year over year with 19,000 units (up 3% month over month). Complete industry data for May, including final order numbers, will be published in mid-June.
“Given robust Class 8 orders into year end and the ensuing backlog support, coupled with normal seasonal order patterns, orders were expected to moderate into Q2 and remain at relatively soft levels into mid-Q3/23. May orders were in line with this view,” Eric Crawford, vice president and senior analyst at ACT Research, said. “The relatively few build slots still free in H2/23 suggest order intake is unlikely to find meaningful traction in the coming months.
“Medium-duty demand surged 27% higher year over year to 19,000 units (plus 3% month over month), reversing course after three straight months of year-over-year declines,” Crawford said. “The seasonally adjusted May intake, at 20,600 units, increased 28% year over year (plus 11% month over month).”
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