While Class 8 orders, production and sales were lower year over year in August, new orders and production was up compared to July
, according to a Merrill Lynch Machinery Research investor e-mail discussing ACT Research's August figures. On a seasonally adjusted annual rate basis, retail sales of Class 8 trucks also gained over July numbers, despite losing 40.9 percent year over year.
Merrill Lynch Machinery Research says Class 8 net orders were up 17.3 percent from July to 10.744 units. However, net orders were slightly lower than the previous forecast of 11,000 units, and were down 30.3 percent year over year.
In addition, production of Class 8 models grew 15.5 percent from July to 10,106 units. Year over year, production levels are still down 41.4 percent. Production is at weak absolute levels as companies are still cutting back and the economy remains depressed, according to Merrill Lynch.
While retail sales slipped 5.2 percent over July to 9,412 units, it grew 12.6 percent from July on a seasonally adjusted annual rate basis.
Backlog declined 37.1 percent on a year over year basis, while gaining 1 percent in comparison to July, to 44,559 units.
For Class 5-7, net orders were up 42.6 percent year over year, with a boost of 125.4 percent from July.
, according to a Merrill Lynch Machinery Research investor e-mail discussing ACT Research's August figures. On a seasonally adjusted annual rate basis, retail sales of Class 8 trucks also gained over July numbers, despite losing 40.9 percent year over year.
Merrill Lynch Machinery Research says Class 8 net orders were up 17.3 percent from July to 10.744 units. However, net orders were slightly lower than the previous forecast of 11,000 units, and were down 30.3 percent year over year.
In addition, production of Class 8 models grew 15.5 percent from July to 10,106 units. Year over year, production levels are still down 41.4 percent. Production is at weak absolute levels as companies are still cutting back and the economy remains depressed, according to Merrill Lynch.
While retail sales slipped 5.2 percent over July to 9,412 units, it grew 12.6 percent from July on a seasonally adjusted annual rate basis.
Backlog declined 37.1 percent on a year over year basis, while gaining 1 percent in comparison to July, to 44,559 units.
For Class 5-7, net orders were up 42.6 percent year over year, with a boost of 125.4 percent from July.
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