Class 8 truck net orders shifted into higher gear in August, rising 27 percent from July, but remain below year-earlier levels, according to FTR Associates.
Preliminary data from FTR shows August net truck orders at 15,935 units, with an annualized rate of net orders for the last three months at 179,300 units.
Although August numbers were much better than in July, the month still ranks as the second-lowest order month since August 2010, the research firm said.
July was the worst month for Class 8 net orders since August 2010 and orders were down 23 percent in that month from June, according to FTR’s data.
Net orders for heavy-duty tractors peaked last December and dropped 43 percent through May, rose slightly that month and dropped again through August.
Trucking operators ordered new tractors to replace older equipment last year but have slowed that process as the economy and freight demand weaken.
“The August order numbers are where we expected them to be,” FTR President Eric Starks said, adding production should ease over the next few quarters.