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ShareNASHVILLE, Ind. – July's total Class 8 truck orders for all major North American OEMs was 18,532, the third straight monthly decline and the lowest total since September of 2010.
The slower pace in orders was largely attributed to seasonal conditions, a still lethargic economy and replacement cycle buys yielding.
Overall, July showed a 12 percent drop off from June. However, orders were still up 63 percent from July 2010, according to FTR Associates.
"Although greatly reduced from the torrid pace seen earlier this year, the July numbers came in as we expected," Eric Starks, president of FTR, commented. "OEM order boards and available build capacity are nearly full through the end of the year.
"New orders generally slow seasonally during the summer and therefore we would not conclude that July’s data indicates a prolonged slowing in overall order activity. We remain cautiously optimistic that some stronger order activity will return late this year for 2012 delivery. However, we will certainly be watching for any evidence that recent economic trends are having a negative impact on fleet plans for 2012 and beyond."
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