ACT Research analysis shows that net Class 8 truck orders in January totaled 18,247, which is down 48 percent year over year. Meanwhile, Classes 5 through 7 net orders were flat year over year at 17,400 units.
These results were published in the latest State of the Industry report, recently released by ACT Research, covering Classes 5 through 8 tractors and trucks for the North American market.
“The data stream continues to trend negatively in regard to freight, capacity and freight rates,” said Kenny Vieth, ACT’s president and senior analyst. “Class 8 demand started softening in mid-year 2015. However, the industry starts 2016 with the second largest January backlog in the past 10 years and the fourth biggest in the past 15,” he added.
Vieth said that in spite of the large backlogs, production rates of Class 8 commercial vehicle are likely to moderate in coming months as the industry works through excessive inventories.
“Meanwhile, medium-duty is well positioned for continued modest growth into 2016,” said Vieth. He attributed this to healthy consumer balance sheets, rising new home construction, improved state and local government budgets, and an absence of overbuying.