graph ACT Research: Class 8 Truck Orders at 19,200 Units in March, down 10% Y/Y
Preliminary NA Class 8 net orders in March were 19,200 units, down 10% y/y (-19% m/m), while NA Classes 5–7 net orders were 18,600 units. Complete industry data for March, including final order numbers, will be published by ACT Research in mid-April.
“Given how robust Class 8 orders were into year-end and ensuing backlog support, coupled with increasingly cautious readings from the ACT Class 8 Dashboard (-6 on average ytd in 2023, vs. -3 on average from March-December 2022), we have expected SA orders in a range of 15–20k units per month into mid Q3’23,” shared Eric Crawford, ACT’s Vice President and Senior Analyst. “After coming in stronger than expected last month, SA Class 8 orders fell back within the 15–20k range, and have averaged 19,500 units ytd.”
He added, “Medium-duty demand declined y/y by double digits for the second consecutive month. March Classes 5–7 orders declined 15% y/y (+9% m/m) to 18,600 units. The seasonally adjusted March intake, at 16,900 units, declined 16% y/y (+6% m/m).”
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.
