2023 Class 8 truck orders down 10% year over year

Graph courtesy of ACT Research

ACT Research reports the preliminary figures for Class 8 truck orders in March totaled 19,200 units, which is down 19% from February and 10% lower year over year (y/y).

Final order numbers and complete industry data for March will be available when ACT publishes them in mid-April.

Due to the robust figures at the end of 2022 – from September to December, Class 8 sales finished the year strong with 159,000 units – and cautious readings from the ACT Class 8 Dashboard, the commercial vehicle publisher expected this dip in truck orders, said ACT Vice President and Senior Analyst Eric Crawford.

Specifically, ACT’s prediction was for truck orders to settle in the 15,000-20,000 per month range heading into mid-2023.

Graph courtesy of ACT Research

“After coming in stronger than expected last month [February 2023], SA Class 8 orders fell back within the 15,000-20,000 range, and have averaged 19,500 units year to date,” Crawford said.

As for medium-duty trucks, preliminary numbers show Classes 5-7 new orders came in at 18,600 in March, which is down 15% y/y but an increase of 9% compared to February.

Demand for Classes 5-7 has declined year over year by double digits for the second consecutive month, according to ACT.