Preliminary Class 8 orders for July, released today by A.C.T., were better than expected, according to Bear Stearns.
Class 8 orders for July came in at 15,500 (vs. Bear Stearns’ 10,000-12,000 forecast), down 4% year-over-year (vs. down 40% year-over-year to 13,154 in June).
Class 5-7 orders for July were 14,000 (vs. the 13,000-15,000 forecast), down 57% year-over-year (vs. down 38% year-over-year to 13,752 in June).
“Having gone through two emissions changes in North America, it’s clearer to us that emissions laws are a competitive advantage to the strongest suppliers,” Bear Stearns said. “Something has materially ignited international cap goods demand. And when the strength is as pervasive geographically and product-wise as we’ve seen recently from the truck equipment companies, it seems unlikely to cool in just a quarter or two.”