FTR Associates has released preliminary data showing Class 8 total net orders for all major North American OEM’s fell to 6,167 units in February, the lowest order rate in over six years.
The figure includes orders for the U.S., Canada, Mexico and Exports. February orders declined 21% from January levels and fell some 60% versus February of last year. Until February, orders had held up fairly well in recent months despite the rapid decline in freight.
February’s low order activity highlights the already weak fundamentals in the market.
Said Eric Starks, President of FTR Associates, “We have been anticipating this slowdown in order activity for some time now and expect orders to drop to 5,000 units or below over the next several months.”
Final data for February will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. Contact Eric Starks firstname.lastname@example.org or 1-888-988-1699 ext 41 for more details.