After last month’s anomalous order number, June’s activity offers a more reflective view of current market conditions, according to ACT Research in its latest truck report.
Final North American Class 8 net orders in June totaled 14,604 units (18,200 seasonally adjusted), which is down 13% year over year as the industry moves through the weakest period of the year for orders.
“The Class 8 backlog fell 15,516 units month over month in June to 127,917 units,” Kenny Vieth, ACT president and senior analyst, said in a news release. “With two fewer production days, June’s build rate increased to an incredibly strong 1,609 units per day. Given where we are on the calendar, stronger build than orders should continue to push the backlog lower in the coming months.
“Class 8 retail sales were 24,267 units, or 22,800 seasonally adjusted, down 19% y/y. The decline was more than covered by tractors, which fell 26% y/y, even as vocational units held their own, rising 2.7% y/y. On that seasonally adjusted basis, June’s retail number was the weakest since February 2022, back when supply chains were constraining the market.”
