Class 8 truck orders plummeted in April, falling to fewer than 8,000 units and the lowest single-month total since May 2020, FTR and ACT Research announced Friday.
Preliminary estimates for the month were 7,400 units from FTR and 7,600 units from ACT. FTR states its total is down 54% from March and April 2024, and is in line with the period when order activity cratered due to pandemic shutdowns. Orders also were far below the seven-year April average of 18,963 units.
“Between the end of the industry's annual ‘order season’ and the uncertainty surrounding the impact of U.S. economic policy that peaked at the start of the month on ‘Liberation Day,’ April delivered the weakest cumulative medium- and heavy-duty order tally since the beginning of the pandemic when markets were comparably unsettled,” says Ken Vieth, president and senior analyst at ACT Research.
When final data is released later this month, Vieth says North American Classes 5-8 orders are expected at 19,200 units, “the lowest volume since May 2020. Seasonality provides only modest lift in April.”
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FTR also attributes the precipitous order drop to the tariffs and trade uncertainty.
The announcement of reciprocal U.S. tariffs in early April further intensified the challenges posed by tariffs that had already been announced, the company says. Tariffs and related concerns over the economy and the freight market have significantly dampened fleet investments in Class 8 trucks and tractors this year. FTR states some fleets apparently are holding off on truck and tractor purchases until market conditions improve or at least stabilize.
Overall, FTR says net orders for 2025 through April are down 30% year over year while Class 8 retail sales are down 10% year over year through March. Cumulative net orders for the 2025 order season (September 2024 through April 2025) are down 11% year over year.
“New and pending U.S. tariffs and retaliatory tariffs will significantly increase costs for Class 8 trucks, tractors and related components. In addition to slowing economic and truck freight market growth, prolonged tariff-driven cost increases and, potentially, regulatory changes could further suppress near-term demand within the Class 8 segment,” says Dan Moyer, FTR senior analyst, commercial vehicles.
“This will very likely reduce industry volumes, complicate production planning and negatively affect profitability and stability for OEMs and suppliers in the North American Class 8 truck market.”
FTR also reports increasing levels of cancellations in response to growing uncertainty might have contributed to the unusually low order levels this month. Both the on-highway and vocational markets saw substantial declines month over month due to weakening demand fundamentals. Through April, orders for the last 12 months totaled 269,772 units.
“This challenging environment is further complicated by anticipated revisions to the U.S. EPA’s 2027 NOx regulations,” Moyer adds. “Although orders may be approaching their seasonal/cyclical low point, it is unclear how long these depressed demand levels will persist.”
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And Vieth states business in the medium-duty market isn’t much better.
“The order trend for medium-duty Classes 5-7 vehicles continued to deflate,” he says. “ACT's preliminary look at April North American Classes 5-7 orders puts the month's volume at 11,600 orders, down 41% from last April's level. Seasonal adjustment provides only modest support.”
