In ACT Research Co.’s State of the Industry report that covers Classes 5 through 8 in the North American market, Class 8 booked more than 24,600 new net orders while Classes 5 through 7 booked 15,900 net orders.
“In July, Class 8 orders broke to the high side of expectations for the first time since February, producing seasonally adjusted net orders to 29,600.” said Kenny Vieth, ACT’s president and senior analyst. “Helping drive the high-side outcome in July was a large press-release worthy 9,000 unit, multi-year order, but even if this is excluded July’s orders were well ahead of expectations.”
Vieth noted that at the midway point of Q3, the economy and freight markets were struck by cross-currents, which generated mixed signals.
“On balance, the Classes 5-7 market saw orders improve from June to July, with broad-based strength in Classes 6-7 orders (up 7% y/y) offsetting weakness in Class 5 orders, which were down 12% y/y.” Vieth added. “The improvement in Classes 6-7 orders would have been stronger but for a sharp drop in step van orders versus a one-off order last July.”
