Truck order records are meant to be broken. This year it appears.
ACT Research announced Thursday preliminary North America Class 8 net order data show the industry booked 52,400 units in July, setting a new all-time record in what is typically the weakest order intake month of the year. Note that these numbers are preliminary. Complete industry data for July, including final order numbers, will be published in mid-August.
“Preliminary NA Class 8 net orders rose 24 percent month-over-month to set a new all-time record of 52,400 units in July. The previous record was set in March 2006 (52,194). July’s activity was nearly triple (180 percent) that of July 2017,” says Steve Tam, vice president at ACT Research.
“The feat is made even more spectacular since July is typically the weakest order intake month of the year. Besides capturing the distinction of the best month in the current rally nominally, on a seasonally adjusted basis orders are also the best on record, outpacing the March 2006 order intake by 13,500 units, or 165,000 on a SAAR basis.”
In the medium-duty space, Tam says, “Medium-duty activity slowed decidedly in July, with preliminary North American Classes 5-7 net orders falling 27 percent month-over-month, to 19,500 units. Longer term, however, medium-duty activity remained positive, up 18 percent year-over-year and 22 percent year-to-date. Seasonal adjustment boosts the Classes 5-7 orders moderately, relegating it to the best showing in the past seven months.”