For the month of November, North American Class 8 vehicle net orders were 16,600 units, down nearly 60% from a year ago, according to preliminary information by ACT Research. The trend follows the same pattern as last month, when Class 8 orders were off 37% year-over-year.

“Unfortunately, little of the decline can be accounted for by seasonality,” said Steve Tam, vice president of ACT’s commercial vehicle sector. “November was the weakest Class 8 net order month since August 2010 on a seasonally adjusted basis and September 2012 on an actual basis. A glut of inventory in the broader economy has led to slowing freight and lower freight rates. This, in turn, has caused truckers to hit the pause button on truck orders.”

Contrasting the Class 8 market, solid orders continued for medium-duty Classes 5-7 in November, with net orders reaching 18,700 units.

“More prevalent direct exposure to facets of the economy other than those that generate freight has allowed demand for medium-duty vehicles to remain more stable,” Tam said. “Despite falling 15% month over month, the year-over-year and year-to-date comparisons reveal growth in the mid-single-digit percentage point range.”