Class 8 orders remained above 20,000 units for an eighth consecutive month in May, rising to their second highest volume in seventeen months. New and net Class 8 orders were essentially flat at 24,218 units and 23,188 units, respectively. Classes 5-7 net orders totaled 17,088 units, the best order volume in the past eight months, reports ACT Research.
“New orders being placed for Class 8 vehicles continue to come from soon-to-be buyers who are genuine in their need for new trucks,” said Steve Tam, ACT’s VP-Commercial Vehicle Sector. “Cancellations fell meaningfully in May, flirting with a new all-time low. The lack of speculative orders bodes well for the industry as any increase in need for trucks will translate immediately into order activity.”
This updated status of the North America commercial vehicle market was included in the State of the Industry report, recently released by ACT Research Co. (ACT). The report covers Classes 5 through 8 vehicles for the North American market.
For more information on ACT, please visit www.actresearch.net.