North American Class 8 truck orders fell to 8,900 units in June, marking a 36% year-on-year decline and the weakest monthly figure since 2009, according to preliminary data released by FTR. The downturn reflects reduced fleet activity in the United States and Canada amid ongoing economic uncertainty and tariff pressures.
The Class 8 truck segment tracks new heavy-duty vehicle orders from commercial fleets and serves as a leading indicator for the freight market. Orders for June were well below the 10-year monthly average of 19,213 units. FTR attributed the continued decline to higher production costs linked to recent tariff hikes and sustained volatility in the broader economy.
Forging companies such as Bharat Forge, Ramkrishna Forgings, and MM Forgings remain sensitive to changes in truck demand, given their role in supplying critical components for heavy-duty vehicles. The current order levels may represent a cyclical bottom, though further clarity on economic conditions and regulatory policy is still awaited.
Orders Down In 2025 Cycle
Class 8 truck net orders for the 2025 order season – tracked from September 2024 to June 2025 – have fallen 15% so far, with a year-to-date drop of 32% compared with the same period a year ago. Analysts view these numbers as a reflection of fleet operators pulling back on capital investment in the face of freight demand uncertainty.
June’s figure comes amid a significant pullback in fleet planning, with operators refraining from adding or replacing vehicles due to unstable freight volumes and cost pressures. These trends signal broader concerns around industrial activity and freight transport demand in North America.
Tariff Impact Deepens
The decline in orders coincides with increased import tariffs on raw materials. A hike from 25% to 50% on imported steel, aluminium, and fabricated components came into effect on June 4, pushing up input costs for truck manufacturers. While the US announced a trade deal with Vietnam today, baseline tariffs of 10% remain on imports from most countries, according to FTR.
The additional costs have weighed on production decisions and contributed to the sharp decline in order volumes, with fleets scaling back amid tightening margins.
Regulatory Outlook Uncertain
The U.S. Environmental Protection Agency had proposed new emissions standards for heavy-duty trucks, originally scheduled to take effect from the 2027 model year. These rules were expected to drive a pre-buy cycle in 2025 and 2026, as fleets sought to acquire current-generation vehicles before stricter emissions standards applied.
However, in March, the EPA said it would reconsider the 2027 greenhouse gas norms for trucks. This has added further uncertainty to future purchase decisions, potentially delaying or dampening any pre-buy activity and affecting suppliers like Bharat Forge and others in the forging sector.
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