Class 8 orders in July sink to lowest level since 2010

From Transport Topics.

Class 8 orders were down to their lowest level since 2010 in July, according to preliminary numbers from ACT Research.

North America Class 8 orders came to 10,200 units in July, down 21% from June. It was the lowest monthly order tally since February 2010, ACT reported.

“Weak freight market and rate conditions across North America and a still-large Class 8 backlog continue to bedevil new Class 8 orders,” said Kenny Vieth, ACT president and senior analyst, in a news release. “Though, with original equipment manufacturers opening their new model-year order books in June and July, order weakness is increasingly the story of an overcapacitized Class 8 fleet.”

Steve Tam, ACT Research vice president, told Transport Topics Aug. 5 that July tends to be the weakest month for orders, and usually runs 15% below normal months.

Still, the numbers indicate increasing uncertainty about President Donald Trump’s trade policies and the economy in general. On Aug. 5, China announced new strategies in the trade war, devaluing its currency and canceling U.S. agricultural imports, according to Bloomberg News.

See the complete article from Transport Topics online.