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Class 8 orders dip in March

April 11, 2024
Preliminary data suggests the month’s order activity for heavy-duty tractors is down 34-50% from February. However, this drop aligns with seasonal expectations, analysts say.

Class 8 orders dipped in the last month, according to preliminary reports from FTR Transportation Intelligence and ACT Research. Both firms’ preliminary findings note that March’s net Class 8 orders were down compared to February and March 2023.

“Despite weakness in the freight markets that has persisted for more than a year, fleets continue to be willing to order new equipment,” Eric Starks, chairman at FTR, said. “Order levels in March were below the historical average but remained in line with seasonal trends. Demand is not declining rapidly, but neither is the market doing significantly better than replacement level demand.”

March’s Class 8 unit orders dropped

FTR’s preliminary data counted 18,200 net orders for Class 8 units, down 34% from February and down 4% year over year. Meanwhile, ACT’s preliminary data found 17,300 orders, down roughly 50% from February and down 8.7% year over year.

According to Steve Tam, VP and analyst for ACT, March’s Class 8 order activity was capped by “nascent improvements in the freight market and select OEMs’ efforts to smooth demand, notwithstanding forced conservatism among a portion of the truck-buying populace.”

Tam noted that waning demand for tractors seemed to retrench in March.


Read more at FleetOwner.com, a Bulk Transporter affiliate.

About the Author

Jeremy Wolfe | Editor

Editor Jeremy Wolfe joined the FleetOwner team in February 2024. He graduated from the University of Wisconsin-Stevens Point with majors in English and Philosophy. He previously served as Editor for Endeavor Business Media's Water Group publications.