ACT: September Class 8 orders weakest since 2019

COLUMBUS, Ind. — Final North American Class 8 net orders totaled 20,666 units in September, down 44% y/y, as published in ACT Research’s latest State of the Industry: NA Classes 5-8 report.

“This was the weakest September for orders since 2019 as tariffs, carrier profits, and regulatory limbo continue to drive industry uncertainty,” said Carter Vieth, research analyst, ACT “Worryingly, the new §232 on imported trucks risks onerous cost increases come November 1, at a time when industry demand is already under pressure. For-hire carriers remain stuck contending with the longest freight downturn in recent history, and private fleets have pulled back.”

Numbers for August were also not encouraging.

“While capacity is starting to exit the market at a quicker clip, a necessary evil for spot rate improvement, softening demand in the short term will counterbalance tightening supply,” Vieth said. “As a result, Class 8 tractor orders totaled 12,654 units, down 26% y/y. Vocational Class 8 orders totaled a healthy 8,012 units, down 60% y/y, but that compares to last September’s record vocational order of ~20k units as new production capacity came online. Vocational, like the tractor market, continues to be affected in the short-to-medium term by policy fluctuations related to tariffs, federal funds, and regulations.”

Regarding medium duty, Vieth added that total Classes 5-7 orders fell 19% y/y to 16,133 units.

“MD orders have slowed notably this year, as still-elevated inventories, a weaker economic outlook, and notably increased consumer pessimism weigh on MD demand,” Vieth said.

Dana Guthrie

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