March was the first month in the past six in which Class 5-8 orders fell below the 50,000-unit mark, according to ACT Research.
For the month, 44,700 Class 5-8 vehicle orders were booked, down 2% compared the March 2014. These numbers are preliminary. Actual numbers will be published in mid-April.
“As expected, Class 8 order activity moderated into March as 25,100 NA net orders were booked (24.4k SA),” said Steve Tam, VP-Commercial Vehicle Sector. “Down 9% compared to last year, March’s orders marked the end of a 25-month streak of consecutive year-over-year gains. Rather than signaling weakness in the market, March’s lower intake is more akin to turning the tap down as the pool nears the full mark.”
Medium-duty orders extended their run of year-over-year gains, with six of the past seven months now showing positive. For the month, Class 5-7 net orders slipped to 19,600 units, down 1% from February, but up 8% compared to a year ago. Seasonal adjustment discounts March’s activity, pulling the month’s orders down to 19,100 units.