Class 8 truck orders fell 15% to 27,900 units in November on a year-over-year comparison, according to an estimate from ACT Research. Class 8 truck units were down 36% from October's level.
Class 5 through Class 8 truck orders combined were up 0.1% Y/Y and down 21% M/M.
Wells Fargo's Andrew Casey takes stock of the industry following the monthly ACT update.
"We continue to believe production levels will be challenged to meaningfully improve from current levels and expect 2019 will be the peak year for production. The weaker than expected November orders somewhat corroborate this notion, and we anticipate the order data, against recent negative macroeconomic data shifts, will put short-term pressure on truck related stocks (such as CMI, PCAR, and NAV)."
Related stocks: PACCAR(NASDAQ:PCAR), Allison Transmission (NYSE:ALSN), Navistar (NYSE:NAV), Cummins (NYSE:CMI), Daimler (OTCPK:DDAIF), Meritor (NYSE:MTOR), Volvo Group (OTCPK:VOLVY, OTCPK:VOLVF), Wabash National (NYSE:WNC), Eaton (NYSE:ETN).
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