FTR reported preliminary Class 8 net orders for June at 17,600 units, a month over month improvement of 7% and 38% better than a year ago. Class 8 orders had surprisingly retreated in May, but June’s bounce back activity is more in line with expectations.
It is assumed that most of the June orders are for Q4 delivery enabling the OEM’s to maintain their current build rates throughout the year. This would result in full year numbers in line with FTR’s 2017 forecast. The Class 8 market continues to perform at a steady pace and is consistent with summer’s seasonal trends. Total orders for the past 12 months have totaled 216,000 units.
Don Ake, vice-president of commercial vehicles at FTR, said: “The June orders confirm that the market just took a brief respite in May after several stronger than expected months. The orders are right where we expect them to be and on track with our forecast. The fact that orders are up 38% over last year, proves the market is much improved this year.”