North American Class 5-8 net orders dropped in July, falling 12% from last month, but the 36% increase from last year highlights the significant improvement in demand that has occurred over the past 12 months, according to ACT Research.
“Adjusting for seasonality, NA Classes 5-8 net orders rise to 41,400 units in July,” said Kenny Vieth, President and Senior Analyst at ACT Research. “Compared to year-ago levels, total Class 5-8 net orders were up over 36% from a seasonally adjusted 30,500 unit tally.” Complete industry data for July, to include final order results, will be available mid-August in ACT’s State of the Industry: NA Classes 5-8 Vehicles report.
Preliminary Class 8 net orders improved incrementally in July, rising 4% from June. Compared to last year, July’s orders were up 81%.
“While down on a nominal basis from the 2017 order trend, seasonal adjustment brings July’s order intake in-line with recent activity," said Vieth. "Over the past six-months, Class 8 net orders, seasonally adjusted, have averaged 21,900 units/month."
After a seven-month stretch of NA Class 5-7 net orders averaging 22,100 units per month, preliminary orders dropped in July, declining to a 13-month low.
“Despite the 26% decline from June, orders were still 2% better than last year,” noted Vieth.