FTR Associates today, March 4. released preliminary data showing Class 8 total net orders for all major North American OEMs fell to 6,167 units in February, the lowest order rate in more than six years. The figure includes orders for the United States, Canada, Mexico and exports.
February orders declined 21 percent from January levels and fell some 60 percent versus February of last year, according to FTR; until February, orders had held up fairly well in recent months despite the rapid decline in freight, but the new data highlights the already weak fundamentals in the market.
“We have been anticipating this slowdown in order activity for some time now and expect orders to drop to 5,000 units or below over the next several months,” says Eric Starks, president of Nashville, Ind.-based FTR Associates.
Final data for February will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. For more information, contact Starks at firstname.lastname@example.org or 888-988-1699 ext. 41.