August level of order activity continues to be below replacement levels.
The final report will be available for free download in early 2024.
Compared to July, average retail price increased 1%, while miles and age both declined 1%.
This represents the highest monthly performance since February and the third consecutive month with orders exceeding 20,000 units.
The association notes that volume was down 9 percent from $10.9 billion in June.
The expanded forecast, NA CV Outlook Plus, will feature an annual decarbonization market update, longer-term production forecast and more.
PLI has declined for eight consecutive months.
“If fuel prices continue to increase, it will push less positive readings in the SCI in the months ahead.”
June’s TCI reading was the most negative since November.
The not seasonally adjusted index equaled 111.5 in July, 5.5% below the June level (118).
“Fleet commitments improved in July but were still somewhat mixed. Total cancels dropped to 1.7% of backlog, following two months of elevated activity.”
Private fleets are still growing and pulling freight from the for-hire market.