ECONOMIC WATCH: April Class 8 orders plummet 46% from March

by Today's Trucking

COLUMBUS, Ind. – Class 8 net orders plummeted to 4,100 units in April, according to preliminary data from ACT Research, down 46% from March and 72% year-over-year.

“April represents the first full month of Covid-19 impacts on the trucking industry, and given broadly halted economic output leading to a sharp drop in freight volumes and rates, as well as more empty miles from fragmented supply chains further impacting carriers’ profitability, a negative order number was within the realm of possibilities,” said Kenny Vieth, ACT’s president and senior analyst.

“We suspect that, as was the case in March, instead of canceling, order holders are content to move orders from close-in to later build dates, as they analyze the ongoing Covid impact.”

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