Final North American Class 8 net orders totaled 8.2k units in April, down 48% y/y, as published in ACT Research’s latest State of the Industry: NA Classes 5-8 report.
“April orders were at levels not seen since the onset of the pandemic, when similar uncertainty reigned,” according to Carter Vieth, Research Analyst at ACT Research. “In addition to self-inflicted economic stress, Q1’25 saw publicly traded TL carriers’ net income margins fall to the lowest levels since Q1’10—an ominous signal.”
“Unsurprisingly, tractor orders fell 51% y/y, to 5.0k units. Vocational truck orders fell 44% y/y, totaling 3.2k units,” he continued.
Regarding medium duty, Vieth added, “Total Classes 5-7 orders fell 35% y/y to 12.8k units. MD orders have slowed across the past six months, as current bloated inventories and a weaker economic outlook weigh on new orders.”
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.
Additional Resources
April preliminary North America Class 8 net orders of 7,600 units declined m/m and y/y. Complete industry data for April, including final order numbers, will be published by ACT Research in mid-May.
“Between the end of the industry's annual ‘order season’ and the uncertainty surrounding the impact of US economic policy that peaked at the start of the month on ‘Liberation Day,’ April delivered the weakest cumulative MD and HD order tally since the beginning of the pandemic when markets were comparably unsettled,” shared Ken Vieth, President & Senior Analyst at ACT Research. He continued, “When released by ACT mid-month, NA Classes 5-8 net orders are expected at 19,200 units, the lowest volume since May 2020. Seasonality provides only modest lift in April.”
Regarding medium duty, he added, “The order trend for MD Classes 5-7 vehicles continued to deflate. ACT's preliminary look at April NA Classes 5-7 orders puts the month's volume at 11,600 orders, down 41% from last April's level. Seasonal adjustment provides only modest support.”
Class 8:
Net Orders: 8.2k, -48% y/y
Tractor Orders: 5.0k, -51% y/y
Vocational Truck Orders: 3.2k, -44% y/y
Classes 5-7:
Net Orders: 12.8k, -35% y/y
Click here to learn more information about ACT's State of the Industry: NA Classes 5-8 Vehicles data.
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