September Class 8 Heavy Duty Truck Orders Collapse 71%

• September Class 8 Heavy Duty Truck Orders Collapse 71%
  by Tyler Durden, https://www.zerohedge.com/
  Preliminary Class 8 order data for September is starting to trickle in and, like the data preceding it so far this year – it’s ugly. Class 8 orders were crushed 71% in September, reaching 12,600 units, according to Baird and Morgan Stanley.  This follows a 79% plunge in August.
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  This makes September the 11th consecutive month of YOY order declines and the 9th consecutive month of orders below 20,000. Class 8 orders are often seen as a pulse on the U.S. economy. Morgan Stanley analyst Courtney Yakavonis wrote in a note that she expects YOY order declines to continue into the year’s end. But Baird analyst David Leiker said he was gaining “increased confidence” that a bottom in declines was likely near – but that’s a story we have heard from ACT Research analysts all year and orders just continue to collapse.
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  The blame continues to fall on the trade war.
  “Little has changed since August with respect to the freight market and freight rates, while uncertainties surrounding trade and tariffs continue to weigh on truck buyers’ psyches,” said Steve Tam, ACT vice president, according to FreightWaves. 
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