Class 8 Truck Orders at 15,500 Units in May, up 10% Y/Y

ACT Research reports  “The relatively few build slots still free in 2H’23 suggest order intake is unlikely to find meaningful traction in the coming months.”

Preliminary NA Class 8 net orders bounced back in May with 15,500 units, up 10% y/y (+29% m/m), while preliminary Classes 5-7 surged 27% y/y with 19,000 units (+3% m/m). Complete industry data for May, including final order numbers, will be published by ACT Research in mid-June.

“Given robust Class 8 orders into year end and the ensuing backlog support, coupled with normal seasonal order patterns, orders were expected to moderate into Q2 and remain at relatively soft levels into mid-Q3’23. May orders were in line with this view,” shared Eric Crawford, ACT’s Vice President and Senior Analyst. “The relatively few build slots still free in 2H’23 suggest order intake is unlikely to find meaningful traction in the coming months.”

He added, “Medium-duty demand surged 27% higher y/y to 19,000 units (+3% m/m), reversing course after three straight months of y/y declines. The seasonally adjusted May intake, at 20,600 units, increased 28% y/y (+11% m/m).”

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