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.
Linda Garner-Bunch has been in publishing for more than 30 years. You name it, Linda has written about it. She has served as an editor for a group of national do-it-yourself publications and has coordinated the real estate section of Arkansas’ only statewide newspaper, in addition to working on a variety of niche publications ranging from bridal magazines to high-school sports previews and everything in between. She is also an experienced photographer and copy editor who enjoys telling the stories of the “Knights of the Highway,” as she calls our nation’s truck drivers.
