According to FTR Associates, September 2012 orders were 35% below the same month last year contributing to the weakest quarter since Q3-2010. The annualized rate for net orders placed in the third quarter of this year came in at just 174,400 units. Preliminary order numbers are for all major North American OEMs.
"September orders were at the low end of our expectations so they were somewhat disappointing," says FTR President, Eric Starks. "We wouldn't have been surprised to see three to four thousand more units ordered in the month, but the reported numbers were certainly within the range we expected to see -- albeit softer than we would have liked. Even with sluggish freight levels, we still expect to see a seasonal bounce in orders during Q4, but likely not at levels that many in the industry are hoping to see."
Final data for September will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service.