ORLANDO, Fla. – Navistar International sees stronger truck demand carrying into 2018, and expects to increase its share as demand increases.
Michael Cancelliere, president of truck and parts for Navistar International, said at the American Trucking Associations’ Management Conference & Exhibition that the company is bullish about the economy and truck demand for the remainder of this year and into next.
“Our momentum is tracking well with the momentum we’re currently experiencing as an industry,” he said during a press conference. He noted the U.S. economy is trending well, and that economic growth should strengthen during the rest of 2017 and into 2018.
A side-effect of this is that commodity prices are also rising, so the cost of International trucks must go up as well. He said customers should anticipate a price increase of up to 2% on 2019 model year trucks.
Cancelliere said Class 8 truck orders are poised for recovery, with freight growth showing signs of stability. Solid Classes 6/7 demand will continue, he added. This year, through August, Classes 6/7 orders are up 14.3% year-over-year, heavy-duty truck orders are up 39%, and severe service truck orders up 25.5%.
He said spot market prices haven’t been this high since December 2014.
“Our market share position is improving in every segment,” said Cancelliere, noting it’s up about 1.4% across all segments year-over-year. “The key enabler for this is the focus we’ve placed over the last couple years on product development.”
James Menzies is editor of Truck News magazine. He has been covering the Canadian trucking industry for more than 15 years and holds a CDL. Reach him at firstname.lastname@example.org or follow him on Twitter at @JamesMenzies. All posts by James Menzies