Softening economy reins in class 8 demand

COLUMBUS, Ind. – Although economic weakness in the U.S. has not necessarily not resulted in increased cancellation of class 8 truck purchases, build rates did decline slightly in June.

Despite positive underlying demand factors and freight growth, current events have impacted commercial vehicle demand, reports ACT Research Co. in its latest North American Commercial Vehicle Outlook.

The rpeort shows that class 8 backlogs dipped slightly during June, ending a nine-month run of consecutive improvement.

"The U.S. economy is growing at a very slow pace, and is more susceptible to shocks, both internal and external," stated Sam Kahan, ACT’s chief economist. "We’ve reduced our estimate of future economic growth, which results in a reduction of our class 8 projections for this year as well as 2012.

"Even though long-term demand factors continue to be solid, the economic pressures in the short and intermediate terms cannot be overlooked."