BLOOMINGTON, Ind. — Class 8 orders remained strong through July, with 29,516 net orders placed in the month, according to preliminary data from FTR.
This represents a 71% year-over-year increase and marks the second strongest July on record. Class 8 orders have posted year-over-year increases for 18 consecutive months.
FTR says OEMs will continue to increase build rates and that this level of order intake will challenge capacity restraints by year end.
Through the last six months, orders are on pace to total an annualized 325,000 units.
“July is typically the weakest month of the year for orders, but the market is actually gaining strength in the summer,” said Don Ake, vice-president of commercial vehicles with FTR. “This is the third straight month of order increases. Orders for the last 12 months have been 312,000 units, so production should catch up at some point.”