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Truck sales plunge amidst tariff concerns and uncertainty.
 

Class 8 Truck Orders Hit 15-Year Low
 

CJC reports Class 8 Truck Orders Hit 15-Year Low

FTR Transportation Intelligence marked declines of 25% month-over-month and 36% year-over-year, with 8,900 units booked last month.

While June typically sees a modest month-over-month uptick, FTR noted that ongoing tariff volatility with economic and freight market uncertainty prompted fleets to hold off on new orders.

FTR reported that June’s net orders total fell well below the 10-year average of 19,213 units for June and were the lowest June performance since 2009.

Both the on-highway and vocational sectors saw reduced demand, with the on-highway segment driving most of the decline, FTR said. For the 2025 order season so far (September 2024 through June 2025), net orders are down 15%, totaling 255,265 units over the past 12 months.

FTR noted that Class 8 net orders to date have dropped 32% year-over-year. Recent tariff hikes – particularly the increase from 25% to 50% on steel, aluminum, and fabricated components as of June 4 – significantly raised manufacturing costs just as demand has deteriorated.

“Market uncertainty is further heightened by the potential implementation of Section 232 tariffs on Class 8 trucks and their components along with anticipated revisions to EPA 2027 NOx emissions standards,” said Dan Moyer, senior analyst, commercial vehicles, at FTR.

ACT Research indicated that broader commercial vehicle demand also declined, with preliminary net orders for classes 5-8 in June totaling 21,300 units, down 39% year-over-year. ACT’s estimate for Class 8 orders totaled 9,400 units, down 36% year-over-year.

Final June Class 8 Orders Fall 35%
 

Fleet Equipment reports Final June Class 8 truck orders fell 35% year-over-year to 9,463 units.

Final Class 8 net truck orders for North America reached 9,463 units in June, according to ACT Research’s State of the Industry: NA Classes 5-8 report. That figure marks a 35% year-over-year decline.

ACT Research analyst Carter Vieth pointed to a mix of economic and policy-related headwinds. “Weak fundamentals, current regressive trade policy, and uncertainty over the ever-changing carousel of new tariff rates and deadlines impede decision-making,” Vieth said. He added that for-hire carriers are feeling the brunt of the slowdown, entering the 13th consecutive quarter of freight recession.

With many fleets under financial strain and tariffs raising both equipment costs and reducing goods demand, ACT Research reported that new truck investment continues to falter. Tractor orders were down 42% year-over-year. Vocational truck orders fell 23%, a drop ACT attributes to rising equipment prices, regulatory uncertainty, and reduced activity in housing and private construction markets.

Class 5-7 Sales
 

The medium-duty segment saw similar challenges. Vieth noted that total Class 5 through 7 orders declined 40% year-over-year, falling to 12,387 units. According to ACT Research, this segment has seen a steady slowdown over the past six months, driven by high inventory levels and a cooling economic outlook.

Fed Minutes Reveal Tepid GDP
 

Please note Fed Minutes Reveal Tepid GDP, Inflation Risks, and a Debate Over Rate Cuts

• Real GDP expanded at a tepid pace in the first half of the year. The unemployment rate continued to be low, and consumer price inflation remained somewhat elevated.
• Disinflation appeared to have stalled, with tariffs putting upward pressure on goods price inflation.
• With regard to the outlook for inflation, participants generally expected inflation to increase in the near term. Participants judged that considerable uncertainty remained about the timing, magnitude, and persistence of the effects of this year’s increase in tariffs. In terms of timing, many participants noted that it could take some time for the full effects of higher tariffs to be felt in consumer goods and services prices. 

Trucks are another sign a slowdown is underway.

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