February Heavy Truck Orders Reach Lowest Level In Over 6 Years

March 04, 2009

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Class 8 total net orders for all major North American OEMs fell to 6,167 units in February, the lowest order rate in over six years, according to preliminary figures from transportation forecasting and analysis firm FTR Associates.

The figure includes orders for the U.S., Canada, Mexico and exports. February orders declined 21 percent from January levels and fell some 60 percent compared to February of last year.

Until February, orders had held up fairly well in recent months despite the rapid decline in freight. February's low order activity highlights the already weak fundamentals in the market. Eric Starks, President of FTR Associates, commented that "we have been anticipating this slow-down in order activity for some time now and expect orders to drop to 5,000 units or below over the next several months."

Final data for February will be available from FTR later in the month as part of their North American Commercial Truck & Trailer Outlook service.

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