Normally weak July strong for Class 8 orders
According to Americas Commercial Trucking (ACT) Research, demand for commercial vehicles remained at healthy levels in July 2014 as 45,400 total NA Classes 5-8 orders were booked.
In the 10 months since the start of stronger orders in October 2013, NA Classes 5-8 net orders have been booked at an average of 45,200 units per month. Annualized, that represents a total Classes 5-8 order volume of 542,400 units.
“In July, historically the weakest month for order volumes, NA Class 8 net orders again rose above expectations to a six-month high of 29,900 units,” said Kenny Vieth, ACT’s president and senior analyst.
“That volume marked an improvement of 12% from June and 70% compared to year-ago July. In addition to a continuation of the ongoing strong order trend, some of the non-seasonal strength in July might be related to the rapidly dwindling supply of available build slots in 2014.”
Concerning medium duty net orders, Vieth said, “July’s preliminary 15,500 NA Classes 5-7 net orders fell almost perfectly between the May and June volumes. The preliminary result is also middle-of-the-road in terms of comparisons: up 3% m/m, but down 4% compared to year ago levels, making a third consecutive below year-ago reading. Part of the recent occurrence of modest negative y/y comparisons can be chalked up to tough comps: the MD market began to strengthen appreciably starting in April of last year.”
For more information visit www.actresearch.net.