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ACT: Falling Class 8 Cancellations Precursor to Stronger Demand

April 22, 2013

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Class 8 orders rose above 20,000 units for a sixth consecutive month in March, but fell sequentially for the first time since November, says ACT Research. However, cancellations fell to their lowest levels since Q3’10 for the second time in the past three months.

March Class 8 net orders totaled just over 22,000 units. Medium-duty net orders totaled 15,400 units, a volume just below February and year ago March levels.
 
“Reflecting healthy economies and perhaps currency strength, Class 8 orders bound for Mexico and Canada rose to levels last seen in late 2011,” said Kenny Vieth, ACT’s president & senior analyst.

“Positively, cancellations fell to their lowest levels since Q3’10 for the second time in the past three months. Declining cancellation trends in the U.S. & Canada bode well for the future,” he added.
 
Underlying medium-duty vehicle demand, stronger bus and RV orders month over month and year over year offset a pullback in step van orders. Class 5-7 truck orders were flat from February to March.

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