July truck orders weak, up 36% from last year
Traditionally, the third quarter is historically the weakest truck order period of the year, and July is the weakest month.
This July held true to form.
July Class 8 orders landed just under 17,600 units, down 7 percent month over month, but up 36 percent compared to last July, according to ACT Research.
“New orders continue to come from truckers who have a genuine need for near-term deliveries,” says Kenny Vieth, ACT’s President and Sr. Analyst. “As such, cancellation activity remained at extremely low levels again in July,” he added.
Vieth added trucker profit margins were at their highest level since Q4’05 in the second quarter, which hints at a strong finish to 2013.
Medium duty orders fell 4 percent month-over-month to 14, 970 units.
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.