July commercial vehicle orders moderate
Aug 16, 2011 11:36 AM
A preliminary reading of commercial vehicle net orders in July 2011 for North American markets indicated a moderation in demand for medium- and heavy-duty vehicles according to ACT Research Co. When final July data are released in mid-August, North American Class 8 orders are anticipated at 18,800 units and Classes 5-7 orders at 11,800 units. In both markets, orders were well above year-ago levels. Preliminary net order numbers are subject to revision and are typically accurate to within 5% plus or minus.
“It is easy to attribute July’s order decline to the pull-back in the rate of economic activity,” said Kenny Vieth, president and senior analyst. “However, July is historically the weakest order month of the year, so the drop in Class 8 net orders below 20,000 units in July was expected. When seasonally adjusted, July’s Class 8 orders are in line with recent activity. It is worth noting that August is typically the second-weakest month for Class 8 orders.”
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