ACT Research characterized truck orders in April as "more of the same," as Class 8 orders fell 16% from the previous month.
There were 13,676 units ordered in the month, which is down 39% year-over-year, continuing a trend of declining demand for new vehicles so far this year. This is in line with projections earlier in the month from analysts at both ACT Research and FTR.
“For Class 8, U.S. tractors and the Canada market continue to represent the weakest market segments, while orders from Mexico remained the brightest spot,” said Kenny Vieth, ACT’s president & senior analyst. “Cancellations dropped to a 23-month low, however. April was the third consecutive month in which cancellations and the cancellation rate declined.”
Medium duty orders were strong in April, totaling 20,880 units across Classes 5 through 8. Orders were down 7% from March but are up 39% compared to April 2015.
“Stronger build than orders in April reduced backlogs, but despite the healthy order trend, backlogs continue hand-to-mouth,” said Vieth.