Net Class 8 truck orders fell once again in July, showing no signs of recovery in what is usually the weakest month for demand, according to ACT Research.
Class 8 truck orders fell 20% from June and nearly 58% compared to July 2015, totaling 10,358 units ordered for the month. While July is typically the worst order month of the year, ACT says that volumes haven’t been this week since the first quarter of 2010.
“Outside of the bright spot that continues to be demand for vehicles in Mexico, July’s batch of Class 8 market indicators provided no sign of near-term relief,” said Kenny Vieth, president and senior analyst. “The U.S. and Canadian tractor (especially sleeper) markets remain overcapacitized.”
Medium-duty Class 5-7 truck orders were up slightly for the month, rising 1% from June and year-over-year, totaling 15,364 units.
“After an eight-month run in which Classes 5-7 orders averaged 21,300 units/mo., driven in part by new product introductions, orders have cooled,” said Vieth. “In July, total Classes 5-7 net orders rose 1% m/m and y/y to 15,364 units, with seasonal adjustment boosting the total to 18.200 units.”