Commercial vehicle orders hold up in August despite economic reports in North America
www.chinatrucks.com: Commercial vehicle orders held up reasonably well in August despite a surge of bad news about the economy that led to a collapse in consumer confidence, according to ACT Reseach Co. (ACT). ACT's updated status of the North America commercial vehicle market was included in its State of the Industry report, which covers Class 5 through 8 vehicles.
"The events that caused confidence to wane are still in play and are likely to haunt the economy in coming quarters," said Kenny Vieth, president and senior analyst at ACT. "However, there was not any perceptible impact on the front-end of the commercial vehicle demand continuum. Medium-duty and heavy-duty vehicle orders rose above expectations during the month and cancellations remained modest."
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