COLUMBUS, Ind. — Final Class 8 net orders for April totaled 22,400 units, reaching a 17-month low, according to data from ACT Research.
Classes 5-7 truck net orders came in at 17,700 units, also down.
“These are numbers that would be close to an average monthly reading in an expanding economy, but the current context is that the prior six months’ net orders run-rate was 400,000 on an annualized basis and some correction from these unsustainable levels was inevitable,” said Jim Meil, ACT principal, industry analysis.
As for the medium-duty market, Meil added: “The MD market in April was satisfactory, but not stellar, breaking a string of four consecutive months of year-over-year increases. There was also a tough comp at work, with April 2014 being the second strongest orders month of the year, seasonally adjusted, which probably says more about the strength of the base period than about current weakness.”