Research found from ACT Research found that North American Class 8 net orders in April were at 11,600 units, down 27% year-over-year (-39% month-over-month), while preliminary Classes 5-7 net orders were at 18,000 units, down 10% y/y (-6% m/m).
“Given robust Class 8 orders into year end, ensuing backlog support, and normal seasonal order patterns, orders were expected to moderate into Q2; we expected [standalone] orders in a range of 15-20k units per month into mid-Q3 of 2023. Coupling those items with increasingly cautious readings from the ACT Class 8 Dashboard, April orders were weaker than expected on a standalone basis but bring the YTD monthly [standalone] average to 17,500, squarely in line with our view,” shared Eric Crawford, vice president and senior analyst at ACT Research.