FTR has released preliminary data showing July 2014 North American Class 8 truck net orders at 29,516 units, a tremendous 71% year-over-year increase and the second best July ever. Class 8 orders have now had 18 consecutive months with year-over-year increases.
OEMs continue to increase build rates in response to solid demand for Class 8 trucks and this level of orders will challenge capacity constraints by year end, according to FTR analysts. Class 8 orders for the latest six-month period through July annualize to 325,000 units.
Don Ake, FTR vice-president of commercial vehicles, says: “July is typically the weakest month of the year for orders, but the market is actually gaining strength this summer. This is the third straight month of order increases. Orders for the last 12 months have been 312,000 units, so production should catch up at some point.”
Final data for July will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service.