May Truck Orders Boom but Production is Constrained
Class 8 truck orders saw another bump in May but bottlenecks in the supply chain have kept production numbers constrained.
Class 8 and medium-duty Class 5-7 truck orders were both up slightly in the month of May, but production levels continue to lag behind demand.
Class 8 truck orders saw another bump in May but bottlenecks in the supply chain have kept production numbers constrained, according to ACT Research.
ACT tracked May Class 8 truck orders at 35,608 units, a number that is up 125% over last year in the same month. But with production lagging behind truck orders, the backlog of orders is up to 219,600 units, just below the all-time peak experienced in March 2006.
“Class 8 production remained constrained in May due to parts-specific production constraints,” said Kenny Vieth, president and senior analyst at ACT. “We have heard anecdotes that there are thousands of red-tagged (off-the-assembly-line but incomplete) units waiting to be finished.”
Medium-duty Class 5-7 truck orders were only up by a few hundred units over April and is being driven primarily by the heavier-duty end of the market.
“Seasonally adjusted, orders were at a four-month high of 25,100 units,” said Vieth. “The heavier end of the medium duty market continues to outperform the lighter end, with Class 5 orders in May improving 3% year-to-date and the Classes 6-7 May orders bringing that segment’s ytd rise to 33%.”
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