Class 8 net truck orders dropped for the third consecutive month and fell 11% month-over-month to drop below the 20,000-unit level, according to the latest data compiled by FTR.
According to the firm, orders were 19,714 for May, 23% lower than May 2014 and the first time since September 2013 orders have been below the 20,000 mark.
Class 8 orders over the last six months annualize to 352,000 units.
“The Class 8 market continues to stabilize, and the overall market remains healthy at this point. At the current rate, we expect orders to bottom out in July in the 16,000 unit range, which will be sufficient to maintain production levels this year. However, some individual OEMs may need orders to improve to maintain their build rates,” said Don Ake, vice president of commercial vehicles.
FTR said it expects Class 8 orders to fall back into more seasonal patterns for the balance of the year.
