ACT Research: August Class 8 Truck Orders the Best Month Since February at 19,000 Units
August preliminary NA Class 8 net orders were 19,000 units, down 9% y/y, but reflecting the best month since February. Continued economic strength and seasonal adjustment keep orders on trend. Complete industry data for August, including final order numbers, will be published by ACT Research in mid-September.
“As represented by seasonal factors, the industry remains at that time of the year when expectations for order activity are low, as most of the current year’s orders have been booked and out-year build plans are only starting to open,” shared Kenny Vieth, ACT’s President and Senior Analyst. “For Class 8, August is the last month of ‘weak order season,’ the four-month period that begins in May. Adding to downward pressure, the 2023 build plan has been essentially filled since the end of Q1.”
He added, “Seasonally adjusted, orders were 21,500 units, up 7.1% m/m, the best month since February, and the third consecutive month north of 20,000 units.”
ACT’s State of the Industry: Classes 5–8 Vehicles report 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. It differentiates market indicators by Class 5, Classes 6–7 chassis and Class 8 trucks and tractors, detailing activity-related measures such as backlog, build, inventory, new orders, cancellations, net orders, and retail sales. Additionally, Class 5 and Classes 6–7 are segmented by trucks, buses, RVs, and step van configurations. The Class 8 market is segmented into trucks and tractors, with and without sleeper cabs. The report includes a six-month industry build plan, a backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first look at preliminary net orders is also published in conjunction with this report.
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
