FTR on Wednesday released preliminary Class 8 net orders for June at 17,600 units, a month-over-month improvement of 7 percent, and 38 percent better than a year ago.
FTR says Class 8 orders had surprisingly retreated in May, but June’s bounce back activity is more in line with expectations. It is assumed that most of the June orders are for Q4 delivery enabling the OEM’s to maintain their current build rates throughout the year. FTR says this would result in full year numbers in line with FTR’s 2017 forecast.
On the whole, FTR says the Class 8 market continues to perform at a steady pace and is consistent with summer’s seasonal trends. Total orders for the past twelve months have totaled 216,000 units.
“The June orders confirm that the market just took a brief respite in May after several stronger than expected months. The orders are right where we expect them to be and on track with our forecast. The fact that orders are up 38 percent over last year, proves the market is much improved this year,” says Don Ake, vice president of Commercial Vehicles at FTR.
“Fleets are ordering to fill out their remaining requirements for the second half of the year. However, it is still good news that orders rose and did not drop significantly from May. This shows the market is steady, stable and primed for a strong year in 2018.”
