Class 8 orders strong while cancellations drop
Class 8 truck orders for May jumped 29 percent year-over-year, remaining above 20,000 for the eighth consecutive month and reached the second highest volume in the past 17 months, according to ACT Research data.
Net Class 8 orders reached 23,188 units while Classes 5-7 net orders were 17,088 units, representing the best order volume in the past eight months.
“New orders being placed for Class 8 vehicles continue to come from soon-to-be buyers who are genuine in their need for new trucks,” said Steve Tam, ACT’s vice-president, commercial vehicle sector. “Cancellations fell meaningfully in May, flirting with a new all time low. The lack of speculative orders bodes well for the industry as any increase in need for trucks will translate immediately into order activity.”