Issue link: https://read.dmtmag.com/i/671344
Class 8 Feature P reliminary data released by FTR suggests North Ameri- can Class 8 truck net orders dropped to their lowest level since September 2012 in March – the third consecu ve month for under- whelming orders. FTR says 15,800 units were placed on order in March, 12 percent below Febru- ary and down 37 percent from March of last year. March 2016 was the weakest month of March for heavy truck orders since 2010. "Orders were slightly below ex- pectations as the market continues its downward slide," says Don Ake, vice president of commercial vehicles at FTR. "Fleets are being very cautious in the current uncertain economic environ- ment." A manufacturing recession has slowed freight and fl eets have found they have suffi cient trucks to meet current demand. "Some fl eets are also delaying replac- ing older units until conditions im- prove," Ake adds. "There are very few dealer stock orders, since inventories are suffi cient and OEM lead times are short." Class 8 orders have now totaled 245,000 over the past 12 months and FTR says they are expected to remain under 20,000 units for "the next few months" as the market bottoms out. "OEM's continue to reduce production rates in response to an expected 26 per- cent drop in build this year," Ake says. "Inventories remain high and retail sales have moderated, so order rates should remain subdued in the short-term. Manu- facturing is expected to improve soon and this is expected to increase freight levels and stabilize truck demand." bdj 82 May 2016 BestDriverJOBS www.bestdriverjobs.com By Jason Cannon Indicators: truck orders continue downslide, hit four-year low