Class 8 orders jumped by 23.2% in June, to 16,000 orders, according to ACT Research data. There were 12,979 new orders in June of 2019. New orders in June were 139% higher than in May.
This comes on the heels of two dismal months as Covid threw a wet blanket on trucking activity. Orders fell to 7,632 in March, then to 4,251 in April – their lowest level in 25 years. New orders recovered to 6,687 in May, before exploding in June.
Replacement levels are generally considered to be 20,000 units per month, but the highest number of monthly orders this year has been 17,700, in January.
In spite of the explosive gains in June, class 8 orders have fallen 24.7% year to date. In the first half of 2020, 65,814 trucks were ordered, compared with 87,466 during the same period in 2019.
FTR reported 15,500 new orders in June. ‘The Class 8 market is on the slow, steady recovery that matches our forecast,’ Don Ake, FTR’s vice president of Commercial Vehicles, says. ‘It is also encouraging that fleets are showing enough confidence in the economy to begin placing some viable orders. The trend should continue, but a significant increase is not expected until October when the big fleets begin placing orders for 2021 delivery.’