Preliminary North America Class 8 net order data show the industry booked 15,700 units in March, dropping a moderate 6.7% from February, but down 66% from year-ago March. Note that these numbers are preliminary. Complete industry data for March, including final order numbers, will be published by ACT Research in mid-April.
“March marks the fourth consecutive month of orders meaningfully below the current rate of build. Over that four-month period, Class 8 orders have been booked at a 194,000 SAAR, compared to a 489k SAAR for the same period a year ago,” says Steve Tam, ACT’s Vice President.
He continues, “Even though demand is a shadow of its former self, slowing order intake belies current conditions. Admittedly, economic and freight growth are slowing, but both are still growing. And in the context of retreat from record levels, it is no wonder truck buyers continue to pursue incremental profits, as evidenced by the number of unbuilt units in the backlog.”