BLOOMINGTON, Ind. – Class 8 truck orders “scraped the bottom of the order cycle” in May, according to FTR, coming in at a “chilly” 10,400 units.
That’s 29% off April numbers and down 71% year-over-year. It was the weakest month for orders since 2009.
FTR reports the low order numbers indicate fleets are trying to find scarce build slots for 2019, as May is the final month to lock in orders for this year.
“May’s low orders were consistent with it being the last month in this year’s cycle. The 2019 order pattern was pulled ahead by three months, so May’s orders are similar to what you normally would see in August. Ordering for 2020 is expected to begin in June, with several OEMs expected to start taking orders for next year,” said Don Ake, FTR vice-president of commercial vehicles.
“OEM build rates remain at robust levels. The economy and freight growth are expected to ease throughout the year, applying some downward pressure on the truck market in the second half. Orders for the next couple of months should be a good indication of fleet confidence about 2020.”