ACT Research reported that Class 8 orders in June surprised on the high side after a solid May. Total net orders were 26,729 units. Classes 5-7 net orders declined for the second consecutive month, coming in at 15,055 units.
“Since the summer usually sees a lull in order placement, having Class 8 net orders approach 27,000 before adjustment is a sign of underlying market strength,” said Jim Meil, ACT’s principal, industry analysis. “At the midyear point, Class 8 net orders year-to-date stood at an average of over 28,000 per month and 28% ahead of last year.”
Concerning Classes 5-7 orders, Meil said that in the context of gradual improvement in key market drivers for medium-duty trucks, “We believe the June results are more noise than fundamentals at work. A look at year-to-date results supports this view: Net orders for the first half of 2014 sums to more than 106,600 units, 12.5% above the same time period in 2012.”
