Class 8 truck orders for April came in as anticipated, dodging a major reduction, yet continuing to be impacted by excess capacity.
ACT indicated that preliminary North American Class 8 net orders were 15,600 units, down 1,800 units from March. However, in comparison to a year ago, it was 30% higher.
ACT Research
“Even in good years, Q2 typically delivers below-trend orders, while Q4 orders can trigger optimism at the bottom of the cycle,” said Ken Vieth, ACT president and senior analyst.
[Related: Order activity for trailers drop in March, says analysts]
Vieth also pointed out the sustained period of low freight volumes and rates, as indicated by recent data from DAT, amid lingering overcapacity in the market. As such, carrier profitability by publicly traded for-hire carriers’ performance in the first quarter of the year has been poor.
