Orders for new Class 8 trucks rebounded in June after a falloff in May, and though they are lower quarter-over-quarter, year-over-year Class 8 order comparisons are “positive by a wide margin,” noted Kenny Vieth, president and senior analyst at ACT Research.
“While orders are weak relative to year-to-date activity, June’s orders were up 39% compared to last year,” he explained in a statement.
Vieth said Class 8 orders rebounded to 18,100 units in June, and because of a “deep seasonal trend” that runs through Class 8 orders, seasonal adjustment provides a “significant boost” to June’s volume.
“When adjusted, the June volume rises to 20,200 units,” he pointed out.
FTR Transportation Intelligence reported similar numbers and trends as it pegged preliminary Class 8 net orders for June at 17,600 units; a month-over-month improvement of 7% and 38% better than June of 2016.
“The Class 8 market continues to perform at a steady pace and is consistent with summer’s seasonal trends [with] total orders for the past twelve months totaling 216,000 units,” noted Don Ake, FTR’s vice president of commercial vehicles, in a statement.
“June orders confirm that the market just took a brief respite in May after several stronger than expected months,” he added. “The orders are right where we expect them to be and on track with our forecast. The fact that orders are up 38% over last year proves the market is much improved this year.”
Ake pointed out that the uptick in orders in June also shows that the Class 8 new truck market “is steady, stable and primed for a strong year in 2018.”
In terms of medium-duty trucks, ACT’s Vieth said North American orders for Class 5-7 units dipped to 20,200 units in June, down 1,500 units from May. Yet he stressed that “seasonal adjustment” boosts June’s medium-duty order volume up to 22,700 units, roughly in-line with May’s seasonally adjusted tally of 22,800 units.
Overall, North American Class 5-7 orders were up 34% compared to June of 2016, he added.