June retail truck orders at 9 month high
Commercial vehicle orders may have slipped month-over-month in June, but they still cruised to a nine month high.
“Inventories were down 12,000 units from last June, and the inventory-retail sales ratio dropped to its lowest level, excluding the last two Decembers, since November 2011 at 47 days of supply at June’s sales pace,” says Kenny Vieth, ACT’s President and Sr. Analyst.
Class 8 net orders fell below 20,000 units in June for the first time since last September, settling at 18,830 units. Classes 5-7 net orders also retreated, totaling just fewer than 15,500 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.
“Positively, Class 8 retail sales, when seasonally adjusted, were at a nine-month high of 22,000 units,” Vieth says. “Through year-to-date June, sales have occurred at a seasonally adjusted annual rate of 249,000 units,”