FTR: November Class 8 truck orders drop 59%

Net orders for North American Class 8 trucks tumbled 59 percent year-over-year in November, according to preliminary data from freight forecaster FTR Transportation Intelligence.    Net orders for North American Class 8 trucks declined 59 percent year-over-year in November to 16,475 units, which represents the lowest level since September of 2012, according to preliminary data from freight forecaster FTR Transportation Intelligence.
   Orders for the last 12 months totaled 300,000 units.
   Although orders are expected to rise for the next two months, results still are still not expected to be good, FTR said.
   “The November orders are very concerning. People were optimistic when orders held up well during the summer. Now we get into the peak order season and have the lowest orders of the year,” FTR Vice President of Commercial Vehicles Don Ake said in a statement. “The weak orders are the reason for the recent OEM announcements regarding production cutbacks and layoffs.”
   “Orders should stabilize soon, but backlogs will be shrinking, necessitating larger production cuts than were previously expected,” Ake said.