COLUMBUS, Ind. — The latest State of the Industry report released by ACT Research hints of a recovery in the North American commercial vehicle market.
Heavy-duty Class 8 net orders for July were up in Canada, Mexico and the US, collectively reaching their highest mark since November 2008, according to the report. However, orders were still down 38% year over year.
Medium-duty net orders were down 51% year over year, but that’s largely because of cancellations resulting from GM’s withdrawal from the market, according to ACT Research.
“It’s hard to get excited about order numbers that are very weak by historical standards, but still better than the extremely weak numbers of past months,” said Kenny Vieth, partner and senior analyst with ACT. “On a positive note, inventories continue to decline. When demand eventually comes around, inventories will not be an impediment to higher production.”
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