Strong Sales Hide Drop in Truck Orders
Class 8 truck sales continue to outpace 1999 figures for the second straight month, but an analyst says a two-thirds drop in new orders suggests manufacturers are still working off their backlogs.
Ward’s Communications in Southfield, Mich., reported that February sales totaled 18,524 trucks, compared with the 18,384 sold during the same month in 1999. The total for the first two months of 2000 was 35,063, which was 1.2% above the 1999 figure of 34,636.
Thom Albrecht, an analyst with ABN AMRO Equity Research, said the current strong sales are not surprising or particularly meaningful in terms of the expected downturn from the record-breaking 1999 total of 262,316 vehicles.
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Sales of Class 8 trucks so far this year seemed at odds with reports of falling and canceled orders that have led three manufacturers to schedule production cuts.
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