Surge in Class 8 truck orders sees pause in March
04 April 2024
Source: ACT Research
After a strong start to the year, preliminary North America Class 8 net orders for March came in at 17,300 units, down 10,400 from February and 8.7% from a year ago, according to ACT Research’s State of the Industry: Classes 5-8 Vehicles report. The 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.
“Nascent improvements in the freight market and select OEMs’ efforts to smooth demand, notwithstanding forced conservatism among a portion of the truck buying populace, capped Class 8 order activity in March,” said Steve Tam, ACT’s vice president and analyst. “While we will have to wait for the details of the month’s order volumes, logic suggests waning demand for tractors in the market retrenched in March.”
A 1.3% seasonal factor reduced March’s order intake to 17,100 units (206k SAAR), down 8.6% from February. March marks the first month since May 2023 for seasonally adjusted activity below 20,000 units, ACT noted.
Complete industry data for March, including final order numbers, will be published by ACT Research in mid-April.
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