COLUMBUS, Ind. — The Class 8 order backlog continues to grow, as demand for commercial vehicles remains strong, despite a cooling economy.
The July edition of ACT Research’s North American Commercial Vehicle Outlook indicated Class 8 backlogs rose for the ninth consecutive month. Industry order boards continue to reflect pent-up replacement demand as well as fleets’ ability to financially fulfill that demand, the report indicated.
Strength is evident in all segments of the commercial vehicle market, however ACT warns to monitor a slowing in freight movement momentum.
“Our expectations in the near-term are somewhat tempered by the softness in the second quarter of the year,” said Sam Kahan, ACT’s chief economist. “While the economy continues at a rather slow pace, Class 8 truck demand continues to be strong, driven by longer-term demand factors rather than the short-term gyrations of the economy. Ability to build still appears to be the overarching factor impacting 2011 Class 8 volumes.”
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