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FTR Reports Preliminary North American Class 8 Net Orders for July strongest since October 2019 at 20,000 Units

08.04.20 | FTR



FTR reports preliminary North American Class 8 net orders rebounded in July to 20,000 units, up 28% from June, and double the orders that we had in July of 2019. Class 8 net orders for the last 12 months now total 168,000 units. 
 
The strengthening truck market that occurred in June and July resulted in further improvement for new truck orders. Demand for new trucks was better than expected, but uncertainty around increasing coronavirus case counts and Congressional action on unemployment benefits may dampen the market as we move into fall.
 

Click here to view the latest release and an interactive graph of the Class 8 Truck Orders >


Jonathan Starks, chief intelligence officer, commented, "As we hit the height of summer demand, the freight markets showed strength and resilience and that led to additional orders for trucks. The order activity for both June and July was more robust than expected and is good news for the equipment producers. However, despite the increasing orders, FTR still expects the Class 8 market to maintain a slow, steady recovery.
 
"The freight markets sustained a traumatic decline of volumes at the start of the pandemic. Consumer demand, on an absolute basis, will remain weaker as we deal with high levels of unemployment and a Congress that has been unable to foster a bi-partisan solution to stimulate demand. The OEMs received a needed boost from July orders, activity that will help keep the industry moving in an upward direction.”
 
Final data for July will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. 
 
 

To contact FTR, send an email to [email protected] or call (888) 988-1699 ext. 1 and follow us on Twitter @FTRintel.

The full Class 8 Truck data is available as part of FTR's North American Truck & Trailer Outlook service.


Click here to view a sample report >


About FTR
For more than 30 years, FTR has served as the industry leader in freight transportation forecasting for the shipping, trucking, rail, intermodal, equipment, and financial communities in North America. FTR’s experts, with over 250 years of combined experience in the transportation industry, provide quantitative analysis with historical and modal-specific insights. FTR’s reports, data, commentary, and insights help clients evaluate market risks, identify new opportunities, and make informed decisions.
 
FTR is the only company with a complete set of freight data for all modes of transportation with detail at the 3 Digit STCC commodity level. FTR tracks and forecasts 200+ unique commodity groups both quarterly and annually using their proprietary Freight•cast U.S. freight transportation model. FTR’s Transportation Conference held annually in September in Indianapolis is a unique event bringing together every aspect of the freight transportation world into one place. For more information www.FTRconference.com