Class 8 Orders Exceeding Expectations

FTR Reports Preliminary North American Class 8 Net Orders for July Above Expectations at 13,500 Units

Bloomington, IN – (Trailer Technician) – Class 8 orders for July came in above expectations at nearly 13,500 units, which was 8% below June but a hefty 25% above July 2022. While orders were higher than anticipated, they are still running below replacement demand. Total Class 8 orders for the previous 12 months have equaled more than 301,000 units.

Although above expectations, the absolute level of orders was weak. However, this is normal seasonal behavior due to a traditional mid-year slowdown. Class 8 build remains strong, so this seasonal weakness in orders will continue the trend of shrinking backlogs.

Eric Starks, chairman of the board, commented, “We had expected net orders to fall below 10,000 units monthly several months ago as fleets wait for OEMs to open 2024 build slots, but that did not occur. Build slots are anticipated to open soon, so orders likely will not fall much further – if at all – in the near term. Build slots for 2023 are already filled, so it is unclear when these orders will be slotted, and the situation clearly will add pressure to increase production through the end of the year.”

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.

The FTR 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, visit http://www.ftrconference.com.