Class 8 Truck Demand Still Slow for February

Class 8 truck orders were down as demand fell slightly compared to January, according to the early February numbers from ACT Research and FTR.

Despite January’s already lackluster truck order numbers, February was slightly worse, with net Class 8 orders falling around 2% for the month and 43% compared to February 2015. For the month, FTR is projecting 17,650 units moved for the month.

Orders have averaged around 21,000 units for the past three months and FTR expects 2016’s total yearly orders to stick close to last year’s 254,000 units.

“We should expect orders to stay in a relatively tight range, around the 18,000-20,000 unit mark, for the next several months,” said Don Ake, vice president of commercial vehicles at FTR. “OEMs have made significant production cuts and look to now be right-sized for the order demand.”

By contrast, Class 5-7 vehicle orders increased by 24% in February, representing a consistent rise in medium-duty truck demand, according to ACT Research.

“For medium-duty vehicles, the slow but steady rise in the order trend remained evident in February, with orders rising 9% compared to a year ago and 24% from January’s tepid intake,” said Kenny Vieth, ACT’s president and senior analyst.