ACT Research released final August North American Class 8 numbers on Thursday.
The company says net orders totaled 16,429 units in August, which is down 14% year-over-year. It noted particular weakness in the vocational sector, where interest rate sensitive residential spending continues to underperform and strong construction trends wane.
[RELATED: ACT: Used truck sales dragged in August]
"Class 8 retail sales were 26,500 units, down 8.9% year-over-year," says Kenny Veith, ACT president and senior analyst. "While August sales are still red-tag impacted, the decline from July's unseasonally high sales indicates the industry is on the right path to normalization."
[RELATED: ACT: High inventories headwind for Class 8 demand]
Cancellations are also up, Veith says, to 1,821 units; 1.7% of the backlog.
The numbers were released as part of the State of the Industry: NA Classes 5-8. It provides a monthly look at the current production, sales and general state of the on-road heavy and medium duty commercial vehicle markets in North America.
