COLUMBUS, Ind – Final North American Class 8 net orders totaled 13,465 units in July. Exports and Mexico accounted for 13% of July’s orders, as published in ACT Research’s latest State of the Industry: NA Classes 5-8 report.
“The Class 8 backlog fell 13,626 units month-to-month in July, to 114,291 units. With two more build days, July’s build rate decreased on a per day basis,” said Kenny Vieth, ACT’s President and Senior Analyst. “Still-strong production, coupled with lower orders, continues to drain units from the backlog, and with inventories now at record levels, current production levels are likely coming under increasing pressure.”
Regarding inventories, Vieth added, “Class 8 inventories are at an all-time high in July at 88,803 units.”
According to reports from FTR, U.S. trailer net orders increased by 26% month-over-month to 5,961 units in July but were down 38% year-over-year.
Orders came in well below seasonal expectations and were 64% below the monthly average order level for the last 12 months. Despite the m/m gain, July 2024’s net order total was the fourth lowest in the past four years. Cancellations as a percentage of total gross orders remained above 30% for the third consecutive month.
Although some trailer segments experienced m/m improvements in net orders, the challenging truck freight environment continues to suppress U.S. trailer demand for 2024. Total trailer build decreased by 10% month-to-monthe and 26% year-to-year in July, totaling an output of 18,203 units. That figure is 19% lower than the average July build level over the past five years.
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.
