Class 8 net orders dropped to 13,000 units in May, down 45% year-over-year, final data from ACT Research shows.
"Entering the weakest period seasonally for new business, Class 8 orders continued to decline in May, as weak fundamentals and broad uncertainty pressure demand," says Carter Vieth, research analyst at ACT. "Unsurprisingly, tractor orders fell 43% year-over-year, to 8,349 units. Vocational truck orders fell 48% year-over-year, totaling 4,584 units."
Classes 5-7 orders fell 27% to 14,264 units.
"Medium duty orders have slowed across the past six months as current bloated inventories and a weaker economic outlook weigh on new orders," Vieth says.
