Preliminary Class 8 commercial vehicles net orders for North American markets in May were up 85% from a year ago, according to ACT Research Co. (ACT).
Preliminary net order numbers are subject to revision and are typically accurate to within 5 percent plus or minus.
“May represents the seventh consecutive month of orders above the 24,000-unit level, a clear sign of elevated Class 8 demand,” Steve Tam, vice president-commercial vehicle sector. “Though May had the lowest order intake of the last three months, orders were booked in excess of a 365,000-unit annualized rate from March to May. Industry backlogs, which stood at just over 125,000 units at the end of April, likely rose as May orders outpaced OEM planned production for the month.
“So far, trucks have yet to show any reaction to the recent rash of disappointing economic news. Their freight remains strong, exceeding hauling capacity at this time. Carriers are thinking about their future prospects when making significant capital expenditures on new equipment. If they only reacted to today’s news, they would be paralyzed into inaction.”