Truck orders bounced back in June

[kscarbel2]

Today's Trucking  /  July 3, 2020

Class 8 truck orders spiked to 16,000 units in June, reflecting a rapid freight rate improvement, according to preliminary data.

Orders surged 139% from May, and were up 23% from a “very easy” year-ago comparison. Classes 5-7 orders also rose 77% from May, but were off 20% year-over-year.

“Preliminary data show that June orders for medium and heavy-duty vehicles jumped to a four-month high, rising above the combined April and May order tally,” said an analyst. “On the back of a rapid improvement in freight rates over the course of May and June, North American Class 8 net orders spiked in June and were up against an easy year-ago comparison, when orders were under pressure from still large backlogs and rising equipment overcapacity. June is typically a slower order month, so seasonal adjustment augments the rebound.”

Regarding the medium-duty market, he added, “Preliminary data here also show a four-month high and seasonal adjustment provides a lift to June’s Classes 5-7 orders.”