Class 8 orders in June were surprisingly high at 26,729 units, while Class 5-7 orders declined for the second consecutive month (15,055 units), according to the latest State of the Industry report released by ACT Research Co. (ACT).
“Since the summer usually sees a lull in order placement, having Class 8 net orders approach 27,000 before adjustment is a sign of underlying market strength,” said Jim Meil, ACT’s Principal, Industry Analysis. “At the midyear point, Class 8 net orders year-to-date stood at an average of over 28,000 per month and 28% ahead of last year.”
Concerning Class 5-7 orders, Meil said that in the context of gradual improvement in key market drivers for medium-duty trucks, “we believe the June results are more noise than fundamentals at work. A look at year-to-date results supports this view: Net orders for the first half of 2014 sums to more than 106,600 units, 12.5% above the same time period in 2012.”