ECONOMIC WATCH: April Class 8 orders plummet 46% from March – Truck News


COLUMBUS, Ind. – Class 8 net orders plummeted to 4,100 units
in April, according to preliminary data from ACT Research, down 46% from March
and 72% year-over-year.

“April represents the first full month of Covid-19 impacts
on the trucking industry, and given broadly halted economic output leading to a
sharp drop in freight volumes and rates, as well as more empty miles from
fragmented supply chains further impacting carriers’ profitability, a negative
order number was within the realm of possibilities,” said Kenny Vieth, ACT’s president
and senior analyst.

“We suspect that, as was the case in March, instead of canceling, order holders are content to move orders from close-in to later build dates, as they analyze the ongoing Covid impact.”

Credit: Source link


Please enter your comment!
Please enter your name here