Market uncertainty due to the effects of COVID-19 has depressed demand for new trucking equipment, with new Class 8 truck orders sinking to a 25-year low in April.
ACT Research reported that North American net truck orders totaled just 4,100 in April, the weakest level since August 1995 and down 72% from the comparable month in 2019.
The research firm also lowered its full-year projection to about 117,000 orders in 2020, well below replacement demand, ACT President Kenny Vieth said.
