Preliminary North America Class 8 net order data show the industry booked 10,200 units in July, down 21% from June and the lowest monthly order tally since February 2010. Note that these numbers are preliminary. Complete industry data for July, including final order numbers, will be published by ACT Research in mid-August.
“Weak freight market and rate conditions across North America and a still-large Class 8 backlog continue to bedevil new Class 8 orders. Though, with OEMs opening their new model-year order books in June and July, order weakness is increasingly the story of an overcapacitized Class 8 fleet,” said Kenny Vieth, ACT’s President and Senior Analyst. He continued, “Seasonal adjustment boosts July’s intake to 12,100 units, bringing the “worst since” comparison measurably closer, October 2016.”
Regarding the medium duty market, Vieth explained, “While not as weak, and after a seven-year positive run, the medium duty segment is looking increasingly tired, with July’s preliminary Classes 5-7 net orders at 15,900 units, down 20% year-over-year and 18% through year-to-date July. Seasonal adjustment provides a major boost to July’s medium duty net orders, which rise to 19,100 units, still the lowest adjusted tally since October 2016.”
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ACT’s 61st seminar is scheduled for August 12-14, 2019, and will feature a dealer panel, as well as discussions on near-term demand of North American commercial vehicle markets and the impacts of tomorrow’s technical challenges. A global forecasting workshop is also being planned in conjunction with this semi-annual event. Click here for seminar information.