Page 12 - Market Outlook Q2 2024

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12

U.S. Economic Snapshot

Trailer Orders

70000

60000

50000

40000

30000

20000

10000

0
Jan Feb March April May June July Aug Sept Oct Nov Dec

2024 2023 2022

Source: FTR Transportation Intelligence and ACT Research

TRAILER ORDERS
FTR reported that Class 8 preliminary net orders for May totaled 18,900 units, which is up 25% month-over-month and 37% year-over-year. Class 8
orders for the past 12 months totaled 273,900 units.

This level of orders is above recent demand trends and 2% above the average for the month of May over the past decade. The levels seen this
month further abate worries of any rapid demand decline, and the market is performing moderately above replacement level for orders. After
maintaining an average level of around 20,700 units over the previous three months, orders have continued to slow at a seasonally typical rate,
averaging 17,900 units in the last three months.

Dan Moyer, senior analyst, commercial vehicles, commented, “OEMs are actively filling build slots at a steady pace. Along with the month-over-
month increase, the fact that orders were up significantly from the May 2023 level indicates that the market remains on a solid footing despite
near-term challenges. While all OEMs experienced order growth, vocational markets stood out as particularly strong compared to on-highway.
Despite the trend of stagnant freight markets, fleets remain willing to invest in new equipment. Order levels slightly exceeded historical averages
and seasonal expectations, and we still anticipate a replacement level of output by the end of 2024.”

Preliminary orders may be estimated and are subject to revision when FTR releases final data mid-month as part of its North American Commercial
Truck & Trailer Outlook service.