According to ACT Research, North American Class 8 truck orders saw a year-over-year and month-over-month decline in March. Preliminary data showed a 9.9% decrease compared to the same period in 2023, with orders falling to 17,300 units from 19,200. This also represents a 37.5% decline from the previous month’s total of 27,700 units, ending two consecutive months of year-over-year gains.

Steve Tam, vice president and analyst at ACT, attributed the decline to a cautious approach among truck buyers despite nascent improvements in the freight market and efforts by some OEMs to manage demand.

FTR Transportation Intelligence’s report also highlighted a decrease in Class 8 preliminary net orders for March, with a 4.2% drop compared to the same period last year, totaling 18,200 units. Sequentially, there was a 34% decline from February. Despite ongoing weakness in freight markets, fleets continue to order new equipment, albeit below historical averages.

FTR noted that March orders align with recent demand trends and are consistent with seasonal expectations. While demand is not declining rapidly, it remains at replacement level, with expectations for replacement output by the end of the year remaining unchanged.

Overall, FTR remains optimistic about the market’s performance, noting that activity remains comparable to the year-ago period, with build slots being filled at a healthy rate.

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