“February net orders slid 9% from January volume and were 29% below the same month last year. The sequential net order decline matches the industry order pattern of the past two years. With the majority of this year’s build slots already committed, and many OEMs unwilling to open next year’s order board this early, the potential for higher gross orders is somewhat limited at this point. Additionally, cancellations were roughly 1% of industry backlog last month. While not excessive, that generates some headwinds for net order volumes as well,” said Frank Maly, ACT director of CV Transportation Analysis and Research.
“That’s still solid, but softer order count combined with stronger production volumes in February, resulted in a 1% decline in industry backlog at month-end,” Maly added. “Backlog has remained relatively stable for the past four months, reaching an all-time high in December. At current production rates, the orderboard commits the industry into November on average, although dry vans backlogs stretch into mid-December, while reefer commitments actually edge into next year.”
ACT’s methodology generates a preliminary estimate of the market that should be within +/- 3% of the final order tally.
Generally speaking, cross-collateralization is a fairly straightforward concept to people active in commercial finance. The idea is that any collateral pledged to a lender by its customer (referred to in this article as a debtor) secures every single obligation of... read more
There is no doubt you’re aware that California, the bastion of financial rules and regulations (and my home state), has once again enacted legislation affecting equipment leasing and finance. And because it is the country’s most populous state and largest... read more