Tank truck fleets were among those buying new Class 8 trucks in May, but the pace of new orders overall seems to have eased a bit.
North American Class 8 net orders returned to trend in May as orders fell to 23,300 units (not SA). Despite falling well below April’s overheated intake, May’s Class 8 orders were 77% above the same month last year. That was strong enough to fuel continued growth in industry backlog, according to ACT Research Co. (ACT).
“Despite falling nearly 40% from April, May was nevertheless the eighth consecutive month of strong Class 8 order activity,” says Kenny Vieth, president and senior analyst at ACT. “It is worth noting that April’s level of order intake was unsustainable, so the pullback in May’s order volume was anticipated.”
Even though orders were less robust and industry build rates continued to grow, the Class 8 backlog grew for a ninth straight month in May, Vieth adds.