COLUMBUS, IN -- Order backlogs for Class 8 vehicles, on a tear for nearly a year, ended in June, according to the August report released by ACT Research Co. (ACT).
ACT North American Commercial Vehicle OUTLOOK shows that Class 8 backlogs declined slightly during June, ending a nine month run of consecutive improvement. While economic weakness has not resulted in increased cancellation activity, build rates declined slightly as well during June.
“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.”
