FTR Associates today said its preliminary data show Class 8 truck orders for all major OEMs down 37 percent (24,063 orders) in May from the “historically high” 37,922 units reported for April.
“It was expected that orders would fall off from the almost 40,000 unit demand last month,” said FTR President Eric Starks, “and we saw that in the numbers reported to us.”
He added that orders usually slow during the May-to-September time frame.
It was the same summation given by Steve Tam, ACT Research vice president, last week, who noted that the four-month slowdown is “an almost perennial ritual that takes place as buyers turn their attention to pursuits other than purchasing new equipment.” (See story here.)
Starks predicted that May’s decline in orders will have “little near-term impact as the OEs already have sufficient orders in hand to fill their current production capacity.”
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