There were 19,400 Class 8 truck orders booked in September, slightly down from August but coming closer to a “more sustainable pace," according to an ACT Research report.
After the frantic pace of orders at the end of 2014 and in the beginning of this year, the heavy-truck market has seen a marked slowdown as backlogged orders decrease, cancellations are more frequent and inventories are high.
“We’re seeing a pullback from the recent white hot activity, and are moving toward a more sustainable pace for heavy truck demand,” said Kenny Vieth, ACT’s president and senior analyst.
“While the heavy truck market is poised for a correction, it is important to note the correction is occurring in a growing economy and in a period of healthy trucker profits," he added.
ACT found that the medium-duty Class 5-7 market was strong in the same month, with 22,000 net orders booked. Class 5 saw the biggest rise with a 22% gain year-over-year but Classes 6 and 7 trucks were also trending up.
“Collectively, the Class 5-7 market experienced yet another strong month-over-month increase in orders,” said Vieth. “Strength in the Class 5 market was concentrated in trucks, while step van activity drove the incremental gain in the Class 6-7 market.”
These numbers were published in ACT’s latest State of the Industry report. For more information on ACT Research, click here.