FTR: preliminary Class 8 orders down in April, up y/y

FTR: preliminary Class 8 orders down in April, up y/y

OEMs continue to fill build slots at a healthy rate, according to FTR, who adds most OEMs saw declining orders, some saw small increases.

FTR reported that preliminary Class 8 net orders for April came in at 14,000 units, down 28% from March but up 12.5% year-over-year. Class 8 orders for the past 12 months total 267,700 units.

Similar to activity in February and March, FTR says April orders were consistent with the recent demand trend and are in line with seasonal expectations. The levels seen over Q1 of 2024 mostly quelled concerns of a rapid decline in demand, and the market is performing slightly above replacement-level orders, according to FTR. After maintaining an average level of around 25,000 units over the previous three months, FTR notes orders have continued to slow at a seasonally typical rate, averaging 20,000 units in the last three months.

FTR says OEMs continue to fill build slots at a healthy rate, adding that while many OEMs saw declining orders, some saw small increases.

“Despite the month-over-month decline, the fact that orders were up significantly from the April 2023 level indicates that the market is still solid,” said Dan Moyer, FTR’s senior analyst for commercial vehicles. “The persistent stagnation in the freight markets has not deterred fleets from being willing to order new equipment. Order levels were below the historical average but remain in line with seasonal trends, and we still expect a replacement level of output by the end of 2024.”

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