FTR Reports Preliminary North American Class 8 Net Orders Fell 37% M/M in April to 12,050 Units
Bloomington, IN – (Trailer Technician) – FTR reports that preliminary North American Class 8 net orders fell in April for the sixth time in the last seven months, coming in at 12,050 units. Order activity was down 37% m/m and 20% y/y. Class 8 orders have totaled 298,500 for the previous 12 months.
The weak order level in April is not a major surprise, although it is happening earlier in the year than typically expected. The slowdown in orders is not a direct indication of the level of demand but rather is because build slots are filled for 2023. Reduced order levels will continue through the seasonally weak summer order period.
Eric Starks, chairman of the board, commented, “When 2024 order boards open later this year, we anticipate some modest additional strength in order activity. There still are indications that fleets are requesting equipment, and there has been no notable uptick in cancellations. Once we see the full data mid-month we will have a better grasp on any changes in cancellation behavior.
“With build strong over the last several months, backlogs will have come down during April. The incoming order rate for March was 145,000 annualized, which is on par with the weak order levels during the summer of 2022. Despite the weakness, we do not anticipate much, if any, negative impact on production levels over the next few quarters.”
Preliminary orders may be estimated and are subject to revision when FTR releases final data mid-month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, email sales@ftrintel.com or call (888) 988-1699 ext. 1
About FTR
For more than 30 years, FTR has served as the industry leader in freight transportation forecasting for the shipping, trucking, rail, intermodal, equipment, and financial communities in North America. FTR’s experts, with over 250 years of combined experience in the transportation industry, provide quantitative analysis with historical and modal-specific insights. FTR’s reports, data, commentary, and insights help clients evaluate market risks, identify new opportunities, and make informed decisions.
FTR is the only company with a complete set of freight data for all modes of transportation with detail at the 3 Digit STCC commodity level. FTR tracks and forecasts 200+ unique commodity groups both quarterly and annually using their proprietary Freight•cast U.S. freight transportation model. FTR’s Transportation Conference held annually in September in Indianapolis is a unique event bringing together every aspect of the freight transportation world into one place. For more information www.FTRconference.com
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