Classes 5-8 vehicle orders slipped in June, but ACT Research says there's reason for optimism to be found in the latest numbers.
Class 8 net orders fell below 20,000 units for the first time since last September, coming in at 18,830 units. Classes 5-7 orders also retreated, totaling just under 15,500 units, ACT reported.
"Positively, Class 8 retail sales, when seasonally adjusted, were at a nine-month high of 22,000 units. Through year-to-date June, sales have occurred at a seasonally adjusted annual rate of 249,000 units," said Kenny Vieth, ACT's president and senior analyst. "Inventories were down 12,000 units from last June, and the inventory-retail sales ratio dropped to its lowest level, excluding the last two Decembers, since November 2011 at 47 days of supply at June's sales pace."
