US heavy truck demand softens in June
www.chinatrucks.com: A nine month run of increasing order backlogs for Class 8 trucks (heavy trucks) ended in June, with demand easing slightly, according to the latest ACT North American Commercial Vehicle Outlook.
The industry forecaster said the backlog growth ended as new Class 8 orders eased in June.
While economic weakness hasn't translated into order cancellations, ACT indicated it has slowed build rates.
"The US economy is growing at a very slow pace, and is more susceptible to shocks, both internal and external," said Sam Kahan, ACT's chief economist. "We've reduced our estimate of future economic growth, which results in a reduction of our Class 8 projections for this year as well as 2012. Even though long-term demand factors continue to be solid, the economic pressures in the short and intermediate terms cannot be overlooked."
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