NASHVILLE, Ind. — Industry forecaster FTR Associates has downgraded its 2010 heavy-duty truck production outlook.
The forecaster announced this morning it was reducing its Class 8 production outlook by 12%, amid signs that a recovery in the freight markets will be slow. FTR’s outlook for the remainder of 2009 remains unchanged.
“It will take a substantial improvement in freight demand to soak up the current significant fleet equipment surplus,” said FTR Associates president, Eric Starks. “At the moment demand for truck freight transport is still declining and is projected to bottom out in the fourth quarter. In our view improvement sufficient to drive new equipment purchases will not occur until 2011.”
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