FTR reports preliminary North American Class 8 net orders fell in April to 15,400 units, down 28% month-over-month and -56% year-over-year.
This is the largest m/m change in 2022, with April’s total 5,900 units less than the average of 21,300 for the previous seven months, according to FTR. Class 8 orders totaled 280,000 units over the last 12 months.
With backlogs largely full for the year, OEMs have yet to open their order boards for 2023. Given all the unknowns faced in today’s business environment, they’re carefully monitoring backlogs and continuing to evaluate monthly how far into the future they are willing to push them.
“April’s order total does not accurately reflect the current demand for new trucks,” said Charles Roth, FTR’s commercial vehicle analyst. “It does, however, reflect a market that is trying to minimize its exposure to the headwinds it could potentially face in 2023.
“As production continues to be significantly impacted by supply-chain disruptions, component shortages, labor shortages, and increased material costs, the hesitancy to open 2023 order boards stems from not being able to guarantee pricing given the current environment. Once supply-chain issues improve, OEMs will be able to substantially increase orders. But until then, conditions remain stagnant.”