Many truck manufacturers believe they overreacted to the initial burst of demand in 1999 and overpopulated the market. Just as important an issue is a market glut that is driving the prices of used tr...
Many truck manufacturers believe they overreacted to the initial burst of demand in 1999 and overpopulated the market. Just as important an issue is a market glut that is driving the prices of used trucks down, making it difficult for carriers to turn in their equipment as quickly as they’ve been doing of late. The combined effect will result in a market correction that could reduce Class 8 truck sales by as much as 20 per cent in 2000, manufacturers predict. Yet the Canadian truck market did not heat up to the degree the U.S. market did in 1999 and as of the start of 2000 was not showing signs of slower sales or reduced production plans. As the accompanying two tables indicate, every month of the final quarter of 1999 posted improved Class 8 sales in comparison to 1998. And sales for January 2000 were almost 20 per cent higher compared to the same month a year ago. That sales growth is also consistent pretty well across the country with every region, (economically depressed B.C. is the only exception) showing better than 10 per cent growth from October 99 to January 2000 in comparison to the same time frame a year ago.
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