Class 8 truck orders hit a high point for 2019 in October; however, in what is traditionally a great month for truck orders, that performance marked the weakest level since 2016, according to preliminary reports.
Early reports on Class 8 truck orders for the month of August show a modest increase compared to July, but as manufacturers open up slots for 2020, it seems that fleets are in no hurry to fill them.
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.
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.
Analysts are projecting another record-breaking month for Class 8 truck orders in August, according to preliminary numbers.
The forecast for key indicators in the national macro economy are positive, especially for the construction industry and the growth of home delivery of products purchased online, augur a strong demand for medium-duty work trucks.
May was another strong month for new Class 8 truck orders as fleets work to keep up with increased demand in a tight capacity environment.
Early reports are showing that heavy-duty truck orders likely dropped as much as 12,000 units from March to April, but despite that being the largest single-month decline since 2011, analysts are still calling the market for Class 8 equipment hot.
Class 8 truck orders soared in January to their highest level since 2006, according to early reports from transportation analysts at ACT Research and FTR.
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