Class 8 Truck Orders Bounce Back: ACT
Class 8 orders rebounded in May after falling below expectations in April, according to the latest State of the Industry report published by ACT Research Co. (ACT), the Indiana-based analyst of the North American and Chinese commercial vehicle markets.
While Class 8 orders rose, Class 5 through 7 net orders pulled back sharply from April’s stellar performance, ACT said.
“Class 8 net orders in May at 26,100 units were up 5% month over month and 15% year over year,” said Steve Tam, vice president-commercial sector at ACT. “On a seasonally adjusted basis, Class 8 net orders rose to 26,800 units, the best order performance since February. Classes 5-7 net orders totaled 16,140 in May, a drop of 26% month over month and 10% year over year.”
Tam said that the market has now entered the slowest period of the year for orders. However, truckers are continuing to indicate high levels of interest in equipment purchases, according to ACT’s monthly survey of for-hire carriers.