October NA truck orders drop amid economic uncertainty
Preliminary North America class 5-8 net orders in October fell 17% year-on-year to 40,000 units, with final data due in mid-November. Class 8 orders declined by 21% to 24,500 units, despite October being seasonally the strongest month for backlogs. Rising costs, weak spot rates and ongoing uncertainty have dampened demand, especially among for-hire carriers and private fleets. For medium duty trucks, class 5-7 orders dropped 11% to 15,500 units, reflecting economic pessimism and slower consumer activity.
ACT's report shows a cautious market, with inventory, cancellations and net orders indicating subdued activity. These trends highlight the impact of economic headwinds on the North American heavy and medium-duty vehicle markets as the industry navigates ongoing challenges with orders, supply chain and market confidence.