COLUMBUS, Ind. — Class 8 truck orders continued to slide in April, down 16% compared to March and 39% year-over-year, according to preliminary figures from ACT Research.
For the month, 33,800 Classes 5-8 trucks were ordered, but only 13,700 were for Class 8 trucks.
Medium-duty orders remained healthy, ACT reported.
“Despite increasingly easy year-over-year comparisons, demand for Class 8 vehicles continued to lose traction in April, with orders slipping 39% year over year and 16% sequentially,” said Kenny Vieth, ACT’s president and senior analyst.
He attributed the softening demand to, “an ongoing overcapacity narrative, a resulting weak freight rate environment, softness in late-model used truck values, and excessive new vehicle stocks.”
Medium-duty truck orders have been healthy since September 2015, ACT noted. April orders were up 12% year-over-year but down 10% from March. ACT attributes medium-duty order growth to a decent jobs market, rising incomes and improved housing and automotive sales activity.