May heavy truck orders up, best since February
Class 8 orders rebounded in May after failing to meet expectations in April.
However, Classes 5-7 net orders pulled back sharply from April’s stellar performance according to ACT Research Co. (ACT).
“Class 8 net orders in May at 26,100 units were up 5 percent month-over-month and 15 percent year-over-year,” says Steve Tam, vice president-commercial vehicle sector at ACT Research Co., LLC. “On a seasonally adjusted basis, Class 8 net orders rose to 26,800 units, the best order performance since February.”
Tam says Classes 5-7 net orders totaled 16,140 in May, a drop of 26 percent month over month and 10 percent year-over-year.
Tam adds that we have entered the slowest period of the year for orders. However, truckers are continuing to indicate high levels of interest in equipment purchases, according to ACT’s monthly survey of for-hire carriers.