According to preliminary data from both ACT Research Co. and FTR, Class 5-8 truck orders had a strong showing in June, improving significantly month-over-month. In June, total North American Classes 5-8 net orders rose over 37% year-over-year to a seasonally adjusted 43,000 units, ACT found.
Class 8 orders rebounded to 18,100 in June, adding 1,200 units from May. “While orders are weak relative to YTD activity, June’s orders were up 39% compared to last year,” said Kenny Vieth, president and senior analyst at ACT Research. “Because of a deep seasonal trend that runs through Class 8 orders, seasonal adjustment provides a significant boost to June’s orders. When adjusted, the June volume rises to 20,200 units.”
ACT found that medium-duty orders fell in June, slipping 1,500 units to 20,200 units compared to May. “Seasonal adjustment boosts June’s medium-duty order volume to 22,700 units, roughly in-line with May’s seasonally adjusted tally (22.8k),” said Vieth. “Benefitting from a particularly easy comp, NA Classes 5-7 orders were up 34% compared to last June’s order intake. ”
FTR measured preliminary Class 8 net orders for June at 17,600 units, a month-over-month improvement of 7% and 38% better than a year ago, more in line with FTR’s expectations than the surprising May numbers were.
“The June orders confirm that the market just took a brief respite in May after several stronger than expected months,” said Don Ake, vice president of commercial vehicles at FTR. “The orders are right where we expect them to be and on track with our forecast. The fact that orders are up 38% over last year, proves the market is much improved this year. Fleets are ordering to fill out their remaining requirements for the second half of the year. However, it is still good news that orders rose and did not drop significantly from May. This shows the market is steady, stable and primed for a strong year in 2018.”