FTR releases preliminary Class 8 net orders for September at 13,800 units, right in line with expectations and down a slight 2% versus August. However, this was the worst month of September since 2009 and orders were down 27% from a year ago. Class 8 orders for the last 12 months have totaled 201,000 units.
Don Ake, Vice President of Commercial Vehicles at FTR, comments, “The truck market continued to stay weak through September, but this was highly expected considering the slower industry conditions and overall seasonal trends. Fleets are cautious due to an uncertain economy and slow freight growth. Class 8 inventories also remain high and this also restrains new orders.”
“The October orders will still be a critical sign for 2017. Large fleets are expected to begin ordering replacement units for 2017. If the economy does improve and the trucking outlook brightens, then medium-sized fleets and others should feel confident enough to order also in coming months. This would put the market near replacement levels in 2017.”
Final data for September will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service.