COLUMBUS, Ind. – ACT Research’s State of the Industry report shows Class 8 orders have dropped 10% month-to-month and 35% year-to-year for the month of March to a total of 16,354 units.
Medium-duty orders were also down 3% from February, but up 10% from last year.
“Medium and heavy demand trends continue to follow the sectors of the economy that drive their respective cycles,” said Kenny Vieth, ACT’s president and senior analyst. “For medium duty vehicles, the consumer economy continues to produce good outcomes as job and income growth support healthy demand for big-ticket durable goods and housing. For Class 8, there are too many trucks chasing insufficient freight. Low prices across the commodity spectrum have rolled back investment, cutting demand for machinery. In addition, the strength of the U.S. dollar has made U.S. manufactured goods less competitive in global markets.”
Vieth said Class 8 orders in March was the lowest it has been since late 2012.