Truck Orders Down in June
Jul 18, 2007 3:15 PM
Class 5-8 builds were down 32% year-over-year in June, according to A.C.T. Class 8 orders were 13,154 in June, down 40% year-over-year (vs. down 46% year-over-year in May).
"We believe orders continue to be buoyed by export markets," Bear Stearns said, as export orders accounted for 38% of net new orders in May vs. 40% of net new orders YTD. "To put those numbers in context, exports were only 11% of net new orders in 2006. Our best sense is that recent strength in export demand might be sustainable near-term due to 2008 emissions regulations in Mexico and Australia."
Class 5-7 orders were 13,752 in June, down 38% year-over-year (vs. down 44% year-over-year in May).
"Arguably, Class 5-7 orders are a 'purer' measure of economically-derived demand, given that there was a smaller pre-buy in Class 5-7, albeit we think there was a 'pre-build'," Bear Stearns said.
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