The worst may be over, but any significant growth out of the current recession isn’t likely until next year, reported transportation industry forecasters FTR Associates on Monday. The group publishes The North American Commercial Truck and Trailer Outlook, and other industry reports.
“After a spurt in August, due to government stimulus, the economy has settled into the slow, uneven movement typical of recession bottoms,” said FTR president Eric Starks in a press release, though he remains “cautious” on predicting significant improvements for trucking in the near future.
Truck orders for October were more than double the previous month, with 21,792 units ordered across the U.S., Canada and Mexico, and for export. However, the upswing is attributed to buyers’ desire to purchase engines with 2007 technology, rather than the more expensive 2010 engines that must adhere to stricter emissions standards and will contain unfamiliar technology. The surge may actually cause lower order numbers in the first part of 2010 or later.
However, that order activity was seen across a broad range of fleets, and didn’t seem to be a case of dealers replenishing their stock, indicates that fleets are confident enough of an economic recovery to commit to equipment purchases, said the group.
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