Year-to-date, net orders are 40 percent below last year. Near-record backlogs have filled 2019 build slots for many OEMs and there continues to be resistance toward booking orders into next year, resulting in the order volume contraction, the report states.
“We’re now running into very difficult year-over-year comparisons, as OEMs are generally unwilling to accept orders for 2020. We hear that some OEMs may open their 2020 order boards in June; if so, expect better comparisons in the months ahead,” says Frank Maly, director, commercial vehicle transportation analysis and research, ACT Research.
“However, given market pressures of strong capacity growth in the face of a slowing economy and tariff uncertainties, the anticipated order surge may not be as robust as many may assume,” Maly adds.
