ACT: Class 8 Orders Slip at ‘Eyebrow-Raising’ Levels
SEP 21, 2015 - 7:30 am
According to ACT Research, there were 20,200 net new orders of Class 8 trucks in August, continuing a recent and worrisome trend in the sector.
Specifically, ACT president and senior analyst Kenny Vieth said that August Class 8 data contained several “eyebrow-raising” data points, including a second consecutive month of off-trend production, cancellations at a 71-month high and only about 1,000 August orders booked into Q4/15 build slots.
Vieth pointed to multiple outside factors, including the weak global economy, as reasons for the downward trajectory in August.
“While some items are more worrisome than others, they are interrelated and reflective of underwhelming domestic economic activity,” said Vieth. “Add to that, a product denominated in a strong U.S. dollar is adding drag on Class 8 demand on top of soft Canadian and Mexican economies. The strong dollar and weak global economy are also severely impacting exports of heavy trucks from North America.”
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