COLUMBUS, Ind. — According to ACT Research’s latest State of the Industry: North American Classes 5-8 report, released April 22, final March Class 8 net orders totaled 17,410 units (17,200 seasonally adjusted), down 8.4% year over year. Total Classes 5-7 orders rose 23% year over year to 25,359 units (23,400 seasonally adjusted).
“March orders may finally indicate a slowdown in capacity additions, a requisite for the freight market to turn, after a year of growth that defied typical fundamentals,” said Kenny Vieth president and senior analyst at ACT. “Though we note, Q2 and Q3 are the weakest points in the calendar for orders, so the call is not prescient.”
Year over year, tractor orders In the U.S. were down 1.3% with a total of 10,400 units. The vocational market for Class 8 trucks fell 2% to 5,300 units.
“Between strong production and softening U.S. tractor sales the past six months, Class 8 inventories have risen substantively,” Vieth said. “Since last September, Class 8 inventories have risen nearly 15,000 units, hitting another four-year high in March.”
In March, Class 8 build totaled 29,854 units. That’s down 5% year over year, but because of Easter, March had three less production days this year. Total Class 8 retail sales were down 13% year over year at 25,942 units.
Classes 5-7 inventories remained highly elevated in March, as medium-duty bodybuilder labor and supply-chain challenges persist,” Vieth said. “Inventory totaled 89,360 units on a nominal basis, up 22% y/y. Retail sales remained healthy at 20,320 units.
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
