This was the lowest month since September 1995 when, after accounting for cancellations, net orders were negative, ACT Research said.
Preliminary orders for Class 8 trucks fell to a 25-year low in April due to coronavirus pandemic.
Further, FTR Transportation Intelligence reported a preliminary count of 4,000 orders, 73% less than a year ago and 44% below March. FTR said Class 8 orders over the last 12 months total just 1.60 lakh units. By contrast, as recently as the summer of 2018, fleets ordered more than 50,000 trucks a month for consecutive months.
As per Kenny Vieth, ACT president and a senior analyst said that “given broadly halted economic output leading to a sharp drop in freight volumes and rates, as well as more empty miles from fragmented supply chains further impacting carriers’ profitability, a negative order number was within the realm of possibilities.”
Source: Media reports