Class 8 truck orders jumped in May, but off very low April levels and still remain well below normal volumes.
And with the Roadcheck inspection blitz in the rearview mirror, the U.S. spot market fell back to muted levels.
Truck orders bounced back in May
Preliminary Class 8 truck orders jumped 40% in May, but that’s from very low levels, according to FTR data. Orders remained 47% off year-ago levels at 12,000 units and well below the seven-year May average of 18,319 units.
It was the worst May for orders since 2020. The improvement from April levels could be due to the reduction – at least temporarily – of tariffs against many countries, FTR says.
“Tariff volatility and uncertainty over the economy and the truck freight market continue to disrupt the North American Class 8 truck and tractor market,” said Dan Moyer, senior analyst with FTR.
“Legal challenges surrounding emergency tariffs (reciprocal tariffs and those related to fentanyl) and the potential introduction of Section 232 tariffs on Classes 4-8 trucks and their components adds further uncertainty to the market environment. Coupled with the anticipated revisions to the EPA 2027 NOx standards, these factors have led many fleets to postpone equipment investment decisions.”
ACT Research reported 13,200 orders, which would be a 44% decline year over year.
“Given the uncertainty around ‘Liberation Day’ in April’s data that sent order activity across the board to 59-month lows, it’s little surprise preliminary order activity for May showed month over month improvement, with total NA Classes 5-8 net orders expected at 26,400 units when released mid-month,” said Carter Vieth, research analyst at ACT Research.
“Though, it’s worth highlighting two things: 1) Continued trade uncertainty will slow order activity, and 2) We have now entered the weakest seasonal period for orders, so improvement, if any, likely won’t reveal itself until the opening of 2026 order boards in Q3 of this year.”
ACT reported medium-duty orders fell 32%, also to 13,200 units, the second weakest order tally since the pandemic.
Spot market settles after Roadcheck bump
The U.S. spot market fell back into its expected range following a bump from the International Roadcheck inspection blitz, which sees many trucks parked to avoid the heightened enforcement scrutiny.
Spot volumes fell, as expected, but refrigerated carriers were hardest hit, according to Truckstop. Flatbed rates recovered, rising for the first time in six weeks. Year over year comparisons were weak across all equipment types, but especially for refrigerated carriers.
The drop in load postings exceeded the decrease in truck postings, resulting in a Market Demand Index of 80.3, which is the lowest level in four weeks.
