Orders in January for heavy-duty commercial vehicles fell 18 percent from January 2009 levels, according to data released today by a leading research firm.
Figures from Columbus, Ind.-based ACT Research showed that 6,513 so-called net orders—new orders minus cancellations—were placed for heavy-duty trucks in January. The firm said January net orders were expected to be weak after companies rushed to fill orders in December ahead of new Environmental Protection Agency (EPA) truck emissions standards that took effect in January and raised the price of each vehicle ordered.
"Despite an economic recovery that has begun to take hold, the implementation of the EPA 2010 emission mandate has made a difficult situation more challenging," said Kenny Vieth, partner and senior analyst with ACT, in a statement. "While supply-demand imbalance in the U.S. freight market continues to improve, we are still a quarter or two away from [a] material improvement in freight rates, which should boost used truck demand and valuations."