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Sunday, June 23, 2024

Truck Orders Fall to Two-year Low; Reflect Slumping Demand

July’s North American Class 8 truck orders were the lowest since August 2010.

According to FTR Associates, July’s 12,568 units were 32 percent  below the same month last year and 23 percent lower than a weak  June.

“While orders came in below expectations, they didn’t really surprise us,” said Eric Starks, president of FTR. “We have been forecasting slower sales of Class 8 vehicles in the second half of 2012 for some time.”

ACT Research, meanwhile, also reported  on the ongoing class 8 slump.

“Class 8: orders fell below our near-term expectations, even when adjusted for seasonality,” said Kenny Vieth, president and senior analyst at ACT Research.“As has been the case since late February/early March, the order weakness appears to boil down to confidence in the economy relative to the risk of taking out a sizeable loan to buy a truck.”