After a banner year in which Class 8 truck orders averaged at least 42,600 units per month, early reports from both ACT Research and FTR show a drop off in activity in November.
Truck production numbers show a trend toward smaller displacement engines and more straight trucks in the truck market, according to ACT Research and Rhein Associates.
Orders for Class 8 trucks moderated from the record-setting levels of this summer, but were still 21% better than a year ago, according to ACT Research, while used-truck sales improved over September. However, cancellations rose.
Despite an overall positive truck sales forecast for 2019, tariffs and trade wars could be stumbling blocks that trip up the economy and send freight and truck sales downward, said two longtime industry analysts.
October Class 8 orders were above 40,000 units for the eighth month in a row, but two different companies reporting the data put rather different spins on their analysis of the numbers.
Record-setting orders for new Class 8 trucks are apparently not creating a used-truck glut, if used-truck prices are any indication. However, the growth in prices is expected to slow.
According to ACT Research, North American Class 8 net orders dropped sequentially in September, but they continue to grow year over year.
Analysts are projecting another record-breaking month for Class 8 truck orders in August, according to preliminary numbers.
Used truck prices stayed relatively flat in July but remained at favorable levels compared with the same month a year ago, according ACT Research.
As battery technology improves and other advantages become more apparent, Class 4-7 commercial electric vehicle sales could top 100,000 units by 2035.
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