Classes 5-8 Net Orders Decline Y/Y for Fourth Consecutive Month in July

In another mixed economic signal, for the month of July, on a preliminary basis 39,400 Classes 5-8 vehicle orders were booked, up 10% from June but down 14% compared to July 2014.

“ACT Research continues to believe the recent order decline is a reflection of meaningfully larger backlogs and tough comps rather than any structural change in demand,” said Kenny Vieth, ACT’s President and Senior Analyst. We shall see.

“Class 8 orders were stronger than expected at 24,100 units. This was 19% above June orders. Despite the better than expected result, Class 8 orders fell 20% from July 2014. Seasonally adjusted, July’s net order volume rises to 28,900 units, the best order month on a seasonally adjusted basis since February,” said Vieth.

North American Classes 5-7 vehicle orders remained in the doldrums for a second consecutive month in July, slipping 1% month over month and 4% year over year to 15,300 units. “Some of this decline is attributable to seasonality,” added Vieth. “When seasonally adjusted, July’s medium duty orders rise to 17,600 units, up 4% from June.”

Category: General Update