June orders were 8 percent lower than May, dropping to 23 percent lower than the same month last year. 2012 orders for Class 8 trucks continue to disappoint with annualized rates coming in well below 2011 levels month after month. For the three-month period including June orders annualize to 202,700 units.
Jonathan Starks, FTR's director of transportation analysis, says, "Truckers are operating in a modestly positive environment, but not strong enough to elicit higher demand for expensive new vehicles. Growth in freight volumes and rates slowed noticeably during late 2011 and into 2012. Despite expectations that both will improve as we finish 2012, equipment markets will have to contend with the effects of last year's slowdown. Additionally, truck manufacturers continue to build at rates well above incoming orders. This will eventually lead to a significant reduction in new truck output."
