FTR reports that preliminary North American Class 8 net orders fell in April for the sixth time in the last seven months, coming in at 12,050 units. Order activity was down 37% month-over-month and 20% year-over-year. Class 8 orders have totaled 298,500 for the previous 12 months.
FTR says that the weak order level in April is not a major surprise, although it is happening earlier in the year than typically expected. The slowdown in orders is not a direct indication of the level of demand but rather is because build slots are filled for 2023. Reduced order levels will continue through the seasonally weak summer order period.