July Class 8 preliminary net orders are mixed

Preliminary July Class 8 truck net orders saw mixed results, according to data respectively issued this week by FTR and ACT Research.

FTR reported that preliminary July Class 8 truck net orders, at 12,700 units, were up 42% compared to June, while falling 7% annually, marking the seventh straight annual decline. It added that orders remained considerably below the 10-year July average, at 19,974 units. Which it explained underscored persistent caution among fleets amid trade tensions, fluctuating tariffs, and ongoing economic uncertainty impacting freight demand. The firm also noted that although both vocational and on-highway segments improved sequentially, the on-highway market primarily drove the annual decline, highlighting particular vulnerability among carriers focused on longer-haul operations. And for the 2025 order cycle (September 2024-July 2025), total orders were down 15% annually, as orders have totaled 254,349 units over the last 12 months.

“Ongoing tariff volatility and broader economic and truck freight market sluggishness continue to negatively impact the Class 8 market, driving a substantial 30% annual decline in year-to-date net orders,” said Dan Moyer, senior analyst, commercial vehicles, for FTR. “Class 8 market uncertainty is further elevated due to the potential imposition of Section 232 tariffs specifically targeting Class 4-8 trucks, tractors, and related components. The lack of clarity regarding potential Environmental Protection Agency revisions to 2027 NOx emissions standards adds to the uncertainty. As a result, many fleets are delaying commercial vehicle equipment investments. Meanwhile, continued record-high inventory levels are placing additional downward pressure on Class 8 production.”

ACT data: ACT reported that preliminary July Class 8 orders, at 13,300 units, fell 1.9% annually.

“While the economy continues to grow, expanding 3.0% q/q in Q2, uncertainty, elevated equipment prices, and emerging signs of economic softness are all weighing on commercial vehicle demand,” said Carter Vieth, Research Analyst at ACT Research. “Solid freight generating segments like housing and manufacturing are sluggish, with manufacturers shedding labor the past three months. Consumers continue to spend, but tariff-related price increases and a weakening labor market may weigh on goods spending in the near term.”