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Rapid Freight Rate Improvement Contributes to Spike in June NA Class 8 Net Orders

| July 6, 2020

Class 8 net orders in June were 16,000 units, rising 139% from May

Preliminary NA Class 8 net orders in June were 16,000 units, rising 139% from May, and up 23% from a very easy year-ago comparison. The NA Classes 5-7 market saw orders improve 77% month-over-month, despite being down 20% from the year-ago June volume. Complete industry data for June, including final order numbers, will be published by ACT Research in mid-July.

“Preliminary data show that June orders for medium and heavy duty vehicles jumped to a four-month high, rising above the combined April and May order tally,” said Kenny Vieth, ACT’s President and Senior Analyst. He continued, “On the back of a rapid improvement in freight rates over the course of May and June, North American Class 8 net orders spiked in June and were up against an easy year-ago comparison, when orders were under pressure from still large backlogs and rising equipment overcapacity.” Vieth further explained, “June is typically a slower order month, so seasonal adjustment augments the rebound.”

Regarding the medium-duty market, Vieth commented, “Preliminary data here also show a four-month high and seasonal adjustment provides a lift to June’s Classes 5-7 orders.”

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