BLOOMINGTON, Ind. — FTR reported that Class 8 preliminary net orders for June totaled 13,100 units, down 33% month-over-month (m/m) and 6% year-over-year (y/y). Class 8 orders for the past 12 months have now totaled 273,700 units, according to a media release.
Additionally, FTR reported June’s orders are on the low side of normal market results, but this follows a five-month period of sustained strength in orders averaging 25% higher than the prior year. After averaging close to 18,000 units during the first three months of the year, orders have continued to slow at a seasonally expected rate, averaging just under 16,000 units in the most recent three months. Build slots for Class 8 trucks are being filled at a steady, albeit slowing, pace.
June’s month-to-month decline in orders was in line with seasonal expectations. The year-to-year decrease is the first this year, but it is relatively insignificant because it is modest and because of the strong order performance over the previous five months. While all OEMs experienced order declines, preliminary data indicates that vocational market demand dropped more significantly, the release stated.
Dan Moyer, senior analyst, commercial vehicles, commented, “The levels seen in June are consistent with seasonal expectations, and the market is still performing at or above replacement levels for incoming orders. Despite stagnant freight markets, fleets continue to invest in new equipment. Order levels are in line with historical averages and seasonal expectations, and market fundamentals remain little changed based on these preliminary orders.”
Preliminary orders may be estimated and are subject to revision when FTR releases final data mid-month as part of its North American Commercial Truck & Trailer Outlook service.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
