The industry forecaster is demonstrating that June’s a remarkable comeback from May is in accordance with anticipations. The market is performing at a persistent pace, FTR reports. With orders totaling 216,000 units sold over 12 months.
Preliminary Class 8 truck orders came in at 17,600 units in June, indicating a 7% increase compared to May and 38% spike according to FTR.
“The June orders confirm that the market just took a brief respite in May after several stronger than expected months,” said Don Ake, VP of commercial vehicles at FTR. “The orders are right where we expect them to be and on track with our forecast. The fact that orders are up 38% over last year proves the market is much improved this year.”
Don added: “Fleets are ordering to fill out their remaining requirements for the second half of the year. However, it is still good news that orders rose and did not drop significantly from May. This shows the market is steady, stable and primed for a strong year in 2018.”
ACT Research details:
- Classes 5-8 net orders were 37% higher equally 43,000 units.
- Classes 5-7 orders were up 28% in the second quarter
- Orders of 18,100 Class 8 trucks in June
- Down 6.5% compared to the first quarter of this year
“While orders are weak relative to year-to-date activity, June’s orders were up 39% compared to last year,” said Kenny Vieth, president and senior analyst at ACT Research. “Because of a deep seasonal trend that runs through Class 8 orders, seasonal adjustment provides a significant boost to June’s orders. When adjusted, the June volume rises to 20,200 units.”
Preliminary Classes 5-7 orders slipped from May by 1,500 units, to 20,200, according to ACT Research.