The Mack Trucks Lehigh Valley Operations facility in Macungie, Pa. (Ryan Collerd/Bloomberg News)
North American Class 8 truck orders in February remained below year-ago comparisons after a short uptick in December, according to ACT Research.
Preliminary data showed orders declined 34% year over year to 18,300 units. They also fell 29% sequentially when compared with January. Orders have been hit with unfavorable year-over-year comparisons for several months over the past year with few exceptions, like a notable rise in December. Orders were again below year-ago comparisons in January.
“After the strong end to 2024, the past two months have largely been defined by trade and economic policy uncertainty, as the new administration has thrown a wrench into business planning,” said Carter Vieth, a research analyst at ACT Research. “Whether the slowdown in orders is a result of moderating economic activity or a response to the newfound uncertainty remains an open question.”
ACT Research also found that seasonally adjusted orders fell 28% sequentially to 16,700 units. This was the lowest seasonally adjusted reading in almost two years.
“While we’re witnessing a market correction reflected in February’s Class 8 truck orders, Mack Trucks continues to see solid demand in the vocational segment, where our products and services excel,” said Jonathan Randall, president of Mack Trucks North America. “We remain optimistic about the industry’s resilience as we navigate through current freight market challenges, focusing on delivering the exceptional value and performance our customers have come to expect from Mack Trucks.”
FTR Transportation Intelligence reported Class 8 preliminary net orders for February decreased 38% year over year to 17,000 units. There also was a sequential decline of 31%. The results were well below seasonal expectations, with the seven-year average for the month being 26,912 net orders. The report also noted that business investment directed toward Class 8 trucks appears to have slowed significantly with the continuous threats of tariffs and increasing uncertainty for market participants.
Moyer
“Approximately 45% of all Class 8 trucks built for the U.S. and Canadian markets will be subject to the 25% U.S. tariff on all imports from Canada and Mexico and planned Canadian counter-tariffs,” said Dan Moyer, senior analyst of commercial vehicles at FTR. “About 40% of U.S. Class 8 trucks are produced in Mexico, and roughly 65% of Canada’s Class 8 trucks are assembled in the U.S.”
Moyer added that even if those tariffs went away, there are others that could impact the industry like those on steel and aluminum. He also warned tariffs may significantly disrupt fleet replacement cycles in combination with expected emissions regulations by either accelerating investments to avoid future price hikes or delaying purchases amid growing uncertainty.
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“Based on February orders, the latter approach apparently is the dominant path so far,” Moyer said. “OEMs and suppliers may consider shifting production to manage tariff exposure. However, these strategic changes remain costly, complex and time-intensive, further complicating industry planning.”
