FTR has released preliminary data showing June North American Class 8 truck net orders fell for the fourth straight month to 19,624 units, 25% below a year ago.
Class 8 orders, while fairly predictable for the period, were somewhat above the current seasonal trend showing just a 2% month over-month-decline from May. The market remains robust, reflected in the orders received in what is typically a weak order month. There are few build slots available for the balance of the year due to the solid backlogs as Class 8 orders over the last six months equate to an annual rate of 305,000 units.
Said Don Ake, FTR Vice President of Commercial Vehicles, “The Class 8 market is heading into the summer order ‘bottom’ at a very normal, predictable pace. The drop in orders is not cause for concern at all. Orders should continue to trend down in July and possibly even August. Fleets right now are evaluating their 2016 requirements, and quoting activity by the OEMs has just started. Class 8 orders will remain rather subdued until the fall order season kicks in this October."
Final data for June will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, send an email to [email protected] or call (888) 988-1699 ext. 1.