Class 8 orders rebounded in May after falling below expectations in April, according to new figures released by ACT Research.
Conversely, Classes 5 through 7 net orders pulled back sharply from April’s stellar performance.
“Class 8 net orders in May at 26,100 units were up 5% month-over-month and 15% year-over year. On a seasonally adjusted basis, Class 8 net orders rose to 26,800 units, the best order performance since February,” said Steve Tam, vice president-commercial vehicle sector at ACT Research. “Classes 5 through 7 net orders totaled 16,140 in May, a drop of 26% month over month and 10% year-over-year.”
Tam said that we have now entered the slowest period of the year for orders. However, truck owners are continuing to indicate high levels of interest in equipment purchases, according to ACT’s monthly survey of for-hire carriers.