Net orders for Class 8 trucks fell below 20,000 units for the first time since September 2013, according to preliminary data from the freight forecaster.
Net orders for Class 8 trucks in May fell 11 percent to 19,714 units compared to April, according to preliminary data from the freight forecaster FTR Transportation Intelligence. The total represents a 23 percent decline from May of 2014 and it is the first time since September 2013 that monthly orders have fallen below 20,000 units.
“All major OEMs were affected by the drop in orders (in May), with some experiencing larger than expected declines,” FTR said in a statement.
Looking at total Class 8 orders for the last six months, FTR projected an annualized total of 352,000 units for 2015, a 6.1 percent decrease from 2014.
FTR said it “expects Class 8 orders to fall back into more seasonal patterns for the balance of the year” and that “backlogs remain strong with no expectation, currently, of any reductions in build rates.”
“The Class 8 market continues to stabilize, and the overall market remains healthy at this point,” said Don Ake, FTR’s vice president of commercial vehicles. “At the current rate, we expect orders to bottom out in July in the 16,000 unit range, which will be sufficient to maintain production levels this year. However, some individual OEMs may need orders to improve to maintain their build rates.”
FTR: Class 8 truck orders down 11% in May
