FTR Reports Preliminary NA Class 8 Net Orders for May Were Above Expectations, Rising 9% M/M to 13,600 Units

This was relatively in line with the same time last year as orders were only off 2% year-over-year

Class 8 orders came in above expectations in May, reversing the recent downward trend by rising nearly 9% from April levels to 13,600 units. This was relatively in line with the same time last year as orders were only off 2% year-over-year. While the number was above expectations, the level of order activity continues to be below replacement demand levels.  Total Class 8 orders for the past 12 months have equaled 298,700 units.

Eric Starks, chairman of the board, commented, “With essentially all the build slots accounted for in 2023 and 2024 slots not yet open, a low level of activity in orders was no surprise. In fact, there was an expectation that the number could move below 10,000 units. Sub-10,000-unit order months are still possible over the summer. No surge in order activity would be expected until the OEMs open build slots for 2024, which would likely be August at the earliest.

“Fleet demand for equipment does not appear to be waning as they still want to take delivery of new equipment. Strong backlogs are keeping build demand strong, and FTR doesn’t anticipate any negative impact on build activity due to the recent order activity.”
 

Category: Breaks, Suspensions & Chassis, Cab, Trailer & Body, Cab, Trailer & Body New, Equipment, Featured, General Update, News, Products, Vehicles