FTR Transportation Intelligence reported that Class 8 preliminary net orders for June totaled 13100 units, down 33% from May and 6% year over year. ACT Research was slightly higher at 14800 unit, but still down 37% from its May 2024 total and down 12% from June 2023. FTR reports Class 8 orders for the past 12 months have now totaled 273700 units.
FTR adds June’s orders are on the low side of normal market results, but this follows a five-month period of sustained strength in orders averaging 25% higher than the prior year. After averaging close to 18000 units during the first three months of the year, orders have continued to slow at a seasonally expected rate, averaging just under 16000 units in the most recent three months. The company says build slots for class 8 trucks are being filled at a steady, albeit slowing, pace, and June’s monthly decline in orders was in line with seasonal expectations.
“The levels seen in June are consistent with seasonal expectations, and the market is still performing at or above replacement levels for incoming orders. Despite stagnant freight markets, fleets continue to invest in new equipment. Order levels are in line with historical averages and seasonal expectations, and market fundamentals remain little changed based on these preliminary orders” says Dan Moyer, FTR senior analyst, commercial vehicles.
