FTR Associates, Nashville IN, has released preliminary data showing Class 8 total net orders for all major North American OEM’s fell to 6,167 units in February.
"We have been anticipating this slow-down in order activity for some time now, and expect orders to drop to 5,000 units or below over the next several months," said Eric Starks, FTR president.
The figure includes orders for the United States, Canada, Mexico, and exports and is the lowest order rate in over six years, according to FTR.
February orders declined 21% from January levels and fell some 60% versus February of last year. Until February, orders had held up fairly well in recent months despite the rapid decline in freight. February’s low order activity highlights the already weak fundamentals in the market, according to FTR information.