Preliminary North America Class 8 net order data show the industry booked 13,100 units in June, gaining 20% from May’s three-year low, but down a significant 69% from year-ago June’s very tough comparison.
Note that these numbers are preliminary. Complete industry data for June, including final order numbers, will be published by ACT Research in mid-July.
“Weak freight market and rate conditions across North America and a still-large Class 8 backlog continue to bedevil new Class 8 orders,” said Kenny Vieth, ACT president and senior analyst. “Seasonal adjustment lifts June’s Class 8 net orders to 15,100 units, and through the first half of 2019, Class 8 net orders were booked at a 181,000 SAAR.”
Regarding the medium duty market, Vieth explained, “The medium-duty order trend remains off the pace set in the first half of 2018 but continues to benefit from the underlying strength in the consumer economy. In June, NA Classes 5-7 net orders were 19,200 units, down 30% y/y and 5.7% from May. While we have to go back 23 months to find a weaker MD order month on an actual basis, we only have to go back three months when looking at seasonally adjusted data.”
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