Demand for commercial vehicles remained at healthy levels in July as 45,400 total N.A. Classes 5-8 orders were booked, according to ACT Research. In the ten months since the start of stronger orders last October, N.A. Classes 5-8 net orders have been booked at an average of 45,200 units per month. Annualized, that represents a total Classes 5-8 order volume of 542,400 units.
“In July, historically the weakest month for order volumes, N.A. Class 8 net orders again rose above expectations to a six-month high 29,900 units,” said Kenny Vieth, ACT’s president and senior analyst. “That volume marked an improvement of 12% from June and 70% compared to year-ago July,” said Vieth. “In addition to a continuation of the ongoing strong order trend, some of the non-seasonal strength in July might be related to the rapidly dwindling supply of available build slots in 2014.”
Concerning medium-duty net orders, Vieth said, “July’s preliminary 15,500 N.A. Classes 5-7 net orders fell almost perfectly between the May and June volumes. The preliminary result is also middle of the road in terms of comparisons: up 3% m/m, but down 4% compared to year ago levels, making a third consecutive below year-ago reading. Part of the recent occurrence of modest negative y/y comparisons can be chalked up to tough comps: the medium-duty market began to strengthen appreciably starting in April of last year.”