Class 8 truck orders strengthened in May, marking the strongest month of May since 2006, according to preliminary figures from industry forecasters.
ACT Research reported preliminary Class 8 orders of 25,900 units while FTR reported 25,605 units. FTR’s figure represents a 14% year-over-year increase. It also marks 16 straight months of year-over-year increases.
ACT Research reported Classes 5-8 orders totaled 41,900 units.
“North American Classes 5-8 orders totaled 41,900 units in May. Since last October, when the current period of stronger orders began, total North American Classes 5-8 net orders have been booked at a 547,200 unit annual rate,” said Kenny Vieth, ACT’s president and senior analyst.
“Class 8 orders in May rose 4% month-over-month and 14% year-over-year. When seasonally adjusted, May was the strongest order month for Class 8 since February,” he added. Classes 5-7 saw orders cool in May to their lowest level since last December. Classes 5-7 net orders fell 27% month over month and 10% year over year. The month-over month number was against a tough comparison, since April’s orders were the best since early 2006.
Class 8 orders, when annualized, amount to 343,000 units over the past six months, according to FTR.
“The positive performance of Class 8 orders in May met our expectations with the volume right in line with our forecast,” said Don Ake, FTR’s vice-president of commercial vehicles. “The recent order activity confirms that the market has some real strength. We do expect Class 8 orders to slow down in the summer as generally is the case, but they will remain above last year’s levels.”
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