While August numbers were much better than July, the month still ranks as the second lowest order month since August 2010. The annualized rate for net orders placed in the last three months comes in at just 179,300 units, well below the same period a year ago.
"The August order numbers are where we expected them to be and validate our assumptions that production should ease over the next few quarters to come in line with demand," says Eric Starks, FTR's president. "We are forecasting Q4 orders to fall below the current production levels."
Preliminary order numbers are for all major North American OEMs. Final data for August will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service.