Class 8 order cancellations down, demand growing
Class 8 orders rose above 20,000 units for a sixth consecutive month in March, but fell sequentially for the first time since November.
March Class 8 net orders totaled just more than 22,000 units. Medium duty net orders totaled 15,400 units, a volume just below February and year ago March levels. This updated status of the North America commercial vehicle market was included in the State of the Industry report, recently released by ACT Research Co. (ACT).
The report covers Classes 5 through 8 vehicles for the North American market.
“Reflecting healthy economies and perhaps currency strength, Class 8 orders bound for Mexico and Canada rose to levels last seen in late 2011,” said Kenny Vieth, ACT’s president & senior analyst. “Positively, cancellations fell to their lowest levels since Q3’10 for the second time in the past 3 months. Declining cancellation trends in the U.S. & Canada bode well for the future.”
Underlying MD vehicle demand, stronger bus and RV orders month over month and year over year offset a pullback in step van orders, Vieth added.
Classes 5-7 truck orders were flat from February to March.