The pullback in Class 8 order activity that began in April continued into July, with order volumes and production activity fairly similar for the past few months, resulting in a plateau effect in order backlogs.
This updated status of the North America commercial vehicle market was included in the State of the Industry report, recently released by ACT Research Co. (ACT). The report covers Class 5 through 8 vehicles for the North American market.
“While July marked the low point for Class 8 orders for the year, industry seasonal patterns project this type of mid-year lull,” stated Kenny Vieth, president and senior analyst at ACT. “While the backlog has leveled out, the low level of cancellations signifies the quality of the orders in the backlog.
“Another positive for the industry is solid production activity with OEMs posting their highest daily build rate of this recovery cycle. Nevertheless, the recent events impacting the U.S. economy can’t be ignored, and we will be closely observing order and build activity over the next couple of months.”