ACT Research reports preliminary North America Class 8 net orders reached 12,600 units in September. This was a 13% increase from August. Orders for Classes 5-7 decreased 9.4% on a month-over-month (m/m) basis to 17,300 units.
Final order numbers and complete industry data will be published in mid-October.
"Little has changed since August with respect to the freight market and freight rates, while uncertainties surrounding trade and tariffs continue to weigh on truck buyers’ psyches," says Steve Tam, ACT’s Vice-President. He continues, “Fleet overcapacitization has led to reduced utilization, with all the foregoing considerations conspiring to undermine demand."
Read "Trade War with China a Key Risk to North American CV Market Forecasts" to learn more.
Tam says the medium-duty truck market has changed from a picture of stability to one of below-trend order activity. "[It] is more a recognition of the outsized strength of the market in the not-too-distant past than a comment on its current state. Nonetheless, demand is slowing, setting up expectations for a small decline next year," he says.