Following steady gains in the beginning of the year, North American Class 8 net orders declined in March, according to ACT Research and FTR Transportation Intelligence.
ACT preliminary data indicated that orders were 17,300 units last month, which was down 10,400 units from February and 8.7% from a year ago. March’s latest figures concluded the previous two month’s year-over-year increases.
NA Class 8 Net OrdersACT Research
Steve Tam, analyst and vice president at ACT, said that despite early signs of improvement in the freight market and some OEM's efforts to stabilize demand, a segment of the truck buying populace remains cautious, calling it a “forced conservatism,” which he pointed out “capped” the Class 8 order activity in March.
Although specific figures of this month’s volumes are not yet final, Tam said that demand for tractors in the market reduced in March.
ACT said that a “middling” seasonal factor of 1.3% decreases intake for the month to 17,100 units. March is also marked as the first month since May 2023 that the seasonally adjusted total is below 20,000 units.
