More on Strong Big-Truck Sales in May
As a follow-up to this recent CD post on strong big-truck sales in May, Indiana-based Americas Commercial Transportation (ACT) Research (a leading publisher of new and used commercial vehicle industry data, market analysis, and forecasting services for the North American market) is also reporting that orders for heavy-duty commercial vehicles remained strong in May. Orders for Class 8 vehicles increased by 85% from the same month last year, and were above the 24,000 unit level for the seventh straight month, a "clear sign of elevated demand."
From the ACT press release:
“May represents the seventh consecutive month of orders above the 24,000 unit level, a clear sign of elevated Class 8 demand. Though May had the lowest order intake of the last three months, orders were booked in excess of a 365,000 unit annualized rate from March to May. Industry backlogs, which stood at just over 125,000 units at the end of April, likely rose as May orders outpaced OEM planned production for the month.
Said Steve Tam, vice president of the commercial vehicle sector, “So far, trucks have yet to show any reaction to the recent rash of disappointing economic news. Their freight remains strong, exceeding hauling capacity at this time. Carriers are thinking about their future prospects when making significant capital expenditures on new equipment. If they only reacted to today’s news, they would be paralyzed into inaction.”
HT: Gary Lyle