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Sunday, June 23, 2024

ACT Research: Commercial Vehicle Net Orders Soft in April

COLUMBUS, IN –   North America medium and heavy duty GVW Classes 6-7 and Class 8 commercial vehicle preliminary net orders for April were down from March as reported by ACT Research Co., LLC (ACT). The final numbers, which will be released mid-May, will approach 17,200 units for heavy duty Class 8 trucks and 8,600 for medium duty Classes 6-7 vehicles. The preliminary net order numbers are typically accurate to within 5% of actual.
“Orders continued to come in below the level ultimately needed to sustain current rates of build,” said Kenny Vieth, president and senior analyst, ACT Research. “Conditions that contributed to the soft patch that started in March were still in play in April, including higher diesel and new truck prices. Beyond that, the data that we use to predict demand remain healthy: The overall economy, and in particular the manufacturing sector, continues to grow, trucker profits are healthy, and used truck prices remain close to record levels,” he added.
ACT is the recognized leading publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, as well as the China CV market. ACT’s CV services are used by all major North American truck and trailer manufacturers and their suppliers, as well as the banking and investment community. For more information on ACT, please go to our web site at http://www.actresearch.net.