ACT Research: Preliminary Class 8 orders down in April

ACT Research: Preliminary Class 8 orders down in April

While the drop from March was seasonally expected, ACT Research says April orders are up 30% from the same time last year.

According to ACT Research, April preliminary North America Class 8 net orders were 15,600 units, down 1,800 units from March, but 30% higher than a very easy year-ago comparison. With April’s seasonal factor being positive, ACT notes the month’s intake is boosted to 16,600 units.

“Even in good years, Q2 typically delivers below-trend orders, while Q4 orders can trigger optimism at the bottom of the cycle,” said Ken Vieth, ACT’s president and senior analyst. “With the long bottom in freight volumes and rates continuing in the most recent data from DAT amid lingering market overcapacity, carrier profitability as illustrated by the publicly traded for-hire carriers’ financial performance was dismal in Q1. Entering the historically worst time of the year for orders, at the bottom of on-highway tractor buyers’ profitability cycle, is producing results in-line with expectations.”

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