ACT Research: Preliminary NA Classes 5-8 Vehicle Orders Moderated Again in May

Preliminary NA Class 8 net orders in May were 22,900 units, down 32% from April, but a significant 242% higher than May of 2020’s COVID-stricken intake. NA Classes 5-7 demand, with orders at 24,800 units, slipped 14% from April. Demand in this segment also enjoyed an easy year-ago comparison, outpacing May 2020 by 168%. Complete industry data for May, including final order numbers, will be published by ACT Research in mid-June.

ACT’s State of the Industry: Classes 5-8 Vehicles report provides a monthly look at the current production, sales, and general state of the on-road heavy and medium duty commercial vehicle markets in North America. It differentiates market indicators by Class 5, Classes 6-7 chassis and Class 8 trucks and tractors, detailing activity-related measures such as backlog, build, inventory, new orders, cancellations, net orders, and retail sales. Additionally, Class 5 and Classes 6-7 are segmented by trucks, buses, RVs, and step van configurations. The Class 8 market is segmented into trucks and tractors, with and without sleeper cabs. The report includes a six-month industry build plan, a backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first-look at preliminary net orders is also published in conjunction with this report.

Used 6.3.2021 (1)“As we have been tracking for several months, medium- and heavy-duty backlogs for the remainder of 2021 were essentially filled with April’s orders,” said Kenny Vieth, ACT’s President and Senior Analyst. He added, “With 2022 order books not yet opened, it is not particularly surprising that orders for both segments fell to levels last seen in August 2020. We reiterate that the order pullback aligns with expectations, driven by the supply of open build slots in 2021, rather than demand for equipment.” Regarding the heavy-duty market, Vieth commented, “While orders moderated in May, the three- and six-month net order SAARs and a backlog that was out nearly 12 months coming into the month highlight ongoing demand strength.” He noted, “Like Class 8, May’s Classes 5-7 net orders moderated, if to a lesser degree, in a still-supportive vehicle demand environment.”

ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.

What’s coming next in 2021 and 2022? ACT’s 65th OUTLOOK Seminar is the planning event for your business needs. Mark your calendar for August 24-26, 2021 to gain market updates and forecasts from ACT’s award-winning, veteran team with more than 200 years of combined industry experience. Click here for more details

ACT’s commercial electric vehicle study, Charging Forward: 2020-2024 BEV & FCEV Forecast & Analysis, was published on March 31, 2021, after months of extensive research. Utilizing industry expertise and analysis, as well as the input from a comprehensive list of key industry study participants, ACT Research has developed a critical guide for battery electric and fuel cell electric unit build and sales forecasts over the next two decades. With coverage of Classes 4-8 commercial vehicles, ACT has identified 14 market subsegments and more than 20 application types; this one-of-a-kind report is a must-have for those investing or investigating electric power opportunities. To learn more or to purchase this report, click here

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