Preliminary Class 8 Truck Net Orders in August

August preliminary North America Class 8 net orders were 16,400 units, up m/m but down 16% y/y. Complete industry data for August, including final order numbers, will be published by ACT Research in mid-September.

“Class 8 orders remained at directionally and seasonally expected levels in August,” shared Kenny Vieth, ACT’s President and Senior Analyst. He continued, “Historically, August is the last month of weak orders before the OEMs open their books to next year’s orders. As such, the month enjoys a large seasonal factor that boosts Class 8 orders nearly 12% above nominal levels to 18,600 units.”

Regarding medium duty, he added, “Preliminary Classes 5-7 orders improved from July, rising 1,200 units m/m to 17,300 units in August. While up m/m, MD net orders fell 16% y/y. Historically, August is the beginning of stronger orders for Classes 5-7 vehicles as school bus order season gets underway.”

Vieth concluded, “In aggregate, August NA Classes 5-8 net orders were generally in line with moderating expectations. The drivers of those expectations are unchanged: for the Class 8 market, overcapacity in the US tractor market leading to generational lows in for-hire carrier profits and a continued lack of traction in freight rates are a primary concern. For the MD market, the focus is on increasingly overextended US consumers, the impact of high interest rates on discretionary spending, and extremely weak RV demand.”

State of the Industry: NA Classes 5-8 Report Overview

ACT’s State of the Industry: NA Classes 5-8 report provides a monthly look at the current production, sales, and general state of the on-road heavy and medium duty commercial vehicle markets in North America. It differentiates market indicators by Class 5, Classes 6-7 chassis and Class 8 trucks and tractors, detailing measures such as backlog, build, inventory, new orders, cancellations, net orders, and retail sales. Additionally, Class 5 and Classes 6-7 are segmented by trucks, buses, RVs, and step van configurations, while Class 8 is segmented by trucks and tractors with and without sleeper cabs. This report includes a six-month industry build plan, backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first-look at preliminary net orders is also published in conjunction with this report.

ACT Research Overview

ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.