Dan Moyer, senior analyst, commercial vehicles, commented, “Despite the month-over-month decline, the fact that orders were up significantly from the April 2023 level indicates that the market is still solid. The persistent stagnation in the freight markets has not deterred fleets from being willing to order new equipment. Order levels were below the historical average but remain in line with seasonal trends, and we still expect a replacement level of output by the end of 2024.”

Dan Moyer
Senior Analyst, Commercial Vehicles