ACT reports the industry booked 18,500 orders in September, a 75 percent surge from August yet still 68 percent below the same month last year. Additionally, before accounting for cancellations, ACT reports new orders were 21,400 units, up 45 percent from August and 64 percent below last year.
“Given that the all-time monthly order record was set last September, a dramatic year-over-year decline was a foregone conclusion. However, the dramatic sequential gain is a significant takeaway,” says Frank Maly, director, commercial vehicle transportation analysis and research, ACT Research. “Fleets, while still leaning toward caution, are beginning to set their investment plans for 2020. A softer, but noticeable order season is now underway, as orders last month were the best since February.”
Maly adds, “Some churn in the orderboard continues, although it appears that the pace of cancellations did slow last month.”
