Truck orders rise slightly in June

Truck orders rise slightly in June

Complete industry data for May, including final order numbers, will be published by ACT Research in mid-July.

The latest numbers from ACT Research found that preliminary North American Class 8 net orders remained seasonally soft, as ACT expected, in June with 16,200 units, up 5% year-over-year and 4% month-over-month.

Preliminary Classes 5-7 rose 2% y/y with 17,700 units (-12% m/m).

“Given robust Class 8 orders into year-end 2022 and the ensuing backlog support, coupled with normal seasonal order patterns, orders were expected to moderate into Q2 and remain at relatively soft levels into mid-Q3 of 2023. June orders were in line with this view, bringing the YTD monthly SA average to 18,200,” shared Eric Crawford, vice president and senior analyst at ACT Research. “The relatively few build slots still free in the second half of 2023 suggest order intake is unlikely to find meaningful traction until 2024 orderboards open.”

He concluded that there was a slight 2% year-on-year increase in medium-duty demand, reaching 17,700 units, but there was a 12% decrease month-on-month. The seasonally adjusted intake for June was 19,100 units, also showing a 2% year-on-year increase but a 12% decrease compared to the previous month. This intake level, when annualized, would be approximately 229,000 units.

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