Class 8 net orders were just over 22,400 units in April, while Classes 5-7 posted 17,700 net orders. These results were published in the latest State of the Industry report, recently released by ACT Research Co (ACT).
Jim Meil, ACT’s principal, industry analysis, said Class 8 orders fell to a 17-month low. “On a seasonally adjusted basis, net orders in April were 21, 288 units, the lowest reading since November 2013,” he said. “These are numbers that would be close to an average monthly reading in an expanding economy, but the current context is that the prior six months’ net orders run-rate was 400,000 on an annualized basis and some correction from these unsustainable levels was inevitable.”
Concerning medium-duty, Meil said: “The MD market in April was satisfactory, but not stellar, breaking a string of four consecutive months of year-over-year increases. There was also a tough comp at work, with April 2014 being the second strongest orders month of the year, seasonally adjusted, which probably says more about the strength of the base period than about current weakness.”