Preliminary North American Class 8 truck net orders were at 29,516 units, a 71% year-over-year increase and the second best July ever, according to FTR Associates.
Class 8 orders have now had 18 consecutive months with year-over-year increases. OEMs continue to increase build rates in response to solid demand for Class 8 trucks, and this level of orders will challenge capacity constraints by year end. Class 8 orders for the latest six-month period through July annualize to 325,000 units.
“July is typically the weakest month of the year for orders, but the market is actually gaining strength in the summer,” said Don Ake, FTR Vice President of Commercial Vehicles. “This is the third straight month of order increases. Orders for the last 12 months have been 312,000 units, so production should catch up at some point.”
Final data for July will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service.
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