Class 5-8 orders were “above expectations” in August despite a proliferation of bad news about the economy that led to a meaningful collapse in consumer confidence, according to the State of the Industry report released by ACT Research Co. (ACT).
“The events that caused confidence to wane are still in play and are likely to haunt the economy in coming quarters,” said Kenny Vieth, president and senior analyst at ACT. “However, there was not any perceptible impact on the front-end of the commercial vehicle demand continuum.
“Medium-duty and heavy-duty vehicle orders rose above expectations during the month and cancellations remained modest.”