Class 8 truck orders down nearly 80 percent compared to August 2018
Preliminary orders for Class 8 trucks fell about 80 percent compared with August 2018’s record orders. All eyes are on the fall months to see how soft the market for new equipment will be. According to the article from the freightwaves.com and its author
Orders fell for the tenth consecutive month, one factor in a trucking sector recession as the SONAR chart shows.
“The huge orders in 2018 supported the robust production last year and through much of 2019,” said Don Ake, vice president of commercial vehicles at FTR Transportation Intelligence.”Now the economy has slowed and there are enough trucks to handle the available freight growth.”
Despite 2020 order books being open at most truck makers in August, most of the roughly 11,000 new trucks ordered were to replace older trucks.
FTR said 10,400 Class 8 orders were placed in August, down 80 percent year-over-year. ACT Research said 10,900 trucks were ordered, down 79 percent. FTR said orders were up 4 percent over July; ACT said month-over-month orders rose 6 percent. August 2018 orders were the highest in any month in industry history, ACT said. You can read in Adler’s article.
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Class 8 truck orders fell for the 10th consecutive month in August. (SONAR:Orders:CL8)
Source and credits: freightwaves.com / and, iTrucker / Mario Pawlowski