Preliminary Class 8 truck orders reached their lowest levels since September 2013 in August, according to industry forecaster FTR.
They totaled 19,550 units, down 18% from July and 22% year-over-year.
“Historically August is one of the lowest ordering months, so if we have bottomed out at 20,000 units, that’s positive,” said Don Ake, vice-president of commercial vehicles with FTR. “It shows the market is stabilizing at a fairly high rate resulting in a reasonably soft landing as production begins to moderate. We expect orders to remain at this level in September before steadily rising beginning in October.”
ACT Research reported preliminary Class 8 orders of 19,700 units and Clases 5-8 orders of 37,200 units, down 8% from July and 14% year-over-year.
“The year-over-year decline marked the fifth consecutive negative reading for Classes 5-8 orders,” said Kenny Vieth, ACT’s president and senior analyst. “However, we continue to believe that much of the order decline is a reflection of larger backlogs and tough comps, rather than any substantive change in demand.”