Orders for Class 5-7 Commercial Vehicles Slow

Demand for commercial vehicles remained at healthy levels in June as 41,300 total NA Class 5-8 orders were booked (44.8k SA). Since the start of the period of stronger orders last October, NA Class 5-8 net orders have been booked at a 541,900 unit annual rate (529k SAAR).

After “best since early 2006” orders in April, Classes 5-7 have cooled over the past two months. In June, net orders fell 9 percent from May and 1 percent from year-ago levels to 14,700 units.

“Given that June is typically a soft order month, seasonal adjustment boosts the month’s MD order intake to 15,600 units/187k SAAR, representing the weakest order intake (SA) since December,” said Kenny Vieth, ACT’s president and senior analyst. “Over the past six months, Class 5-7 net orders were booked at a 214,600 units SAAR. Over the past 12 months, actual orders have totaled 209,600 units.”

“With seasonal tendencies dampening expectations, NA Class 8 net orders surprised on the high side in June at 26,600 units,” Vieth said. “That volume marked an improvement of 2 percent from May and 41 percent compared to year-ago June. Seasonal adjustment boosts June’s Class 8 order total to 29,200 units/351k SAAR. On that basis, June was the strongest order month since January. Since October, Class 8 orders have been booked at a 318,100 unit SAAR.”