Preliminary March Class 8 truck net orders saw declines, according to data respectively issued this week by FTR and ACT Research.
FTR reported that preliminary March Class 8 truck net orders, at 15,700 units, fell 14% sequentially and 22% annually, coming in well below the seven-year March average, at 24,760 net orders and also what it said was a slightly larger than expected seasonal sequential decline. Over the past 12 months through March, FTR said that total Class 8 orders came in at 277,927 units.
The firm explained that the implementation and continued threat of tariffs among North American trading partners combined with ongoing economic and freight market uncertainty have significantly dampened fleet investment in Class 8 trucks and tractors in recent months. And it added that this situation is further complicated by anticipated revisions to the U.S. EPA’s 2027 NOx regulations.
“Persistent uncertainty in tariffs, the economy, freight, and regulations could notably disrupt fleet replacement cycles—potentially prompting fleets to either accelerate purchases ahead of expected price hikes or, more likely, delay investments until market conditions stabilize,” said Dan Moyer, senior analyst, commercial vehicles, FTR. “The latter scenario appears supported by the 25% y/y decline in net orders for 2025 to date. Cumulative net orders for the 2025 order season (September 2024 through March 2025) were down by 8% y/y as well. New and pending U.S. tariffs and retaliatory tariffs are expected to significantly increase costs for North American Class 8 trucks, tractors, and related components. OEMs and suppliers may consider shifting production to mitigate tariff exposure, but such strategic adjustments are costly, complex, and time-consuming, further complicating industry planning.”
ACT data: ACT reported that its tally of preliminary March Class 8 truck net orders, at 16,000 units, fell 8.3% annually.
“The first quarter of 2025 has been defined by one word: uncertainty,” said Carter Vieth, Research Analyst at ACT Research. “Whether the slowdown in orders is a result of moderating economic activity, private fleets’ pausing expansion, or a response to trade and policy uncertainty is difficult to surmise and remains an open question. In March, Class 8 orders decreased 8.3% y/y to 16,000 units. Seasonally adjusted, Class 8 orders were up slightly, increasing 1.1% from February to 16,500 units (198k SAAR), one of the lowest 1-month SAAR readings in almost three years.”
