COLUMBUS, Ind. — Preliminary net orders for Class 8 trucks in May were down 31% year-over-year but up 4% compared to April.
ACT Research reports there were 14,300 Class 8 units booked in May and 17,100 Classes 5-7 orders placed.
“Three consecutive months of decidedly lower net orders for heavy-duty commercial vehicles appear more closely aligned with current activity in the manufacturing and energy sectors of the broader economy,” said Steve Tam, ACT’s vice-president, commercial vehicle sector. “While metrics in these segments are improving, they can best be described as not being as bad as they were previously.”
“Framed by the ongoing overcapacity narrative (too many trucks chasing too little freight) and resultant weak freight rate environment, along with continued softness in late-model used tractor values, May’s Class 8 net orders fell 31% against a moderately tough May 2015 comparison to 14,300 units. Positively, May’s orders, true to season expectations, bested April, coming in 4% higher,” added Tam.
Medium-duty truck orders reached their lowest levels since July 2014, down 14% month-over-month and 18% year-over-year. However, order intake remained 4% higher year to date than over the same period in 2015.