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TRUCKING MARKETS * USA - US long-haul trucks hit by diesel costs, recession
Chicago,ILL,USA -Reuters/The Guardian (UK), by James B. Kelleh -April 11 2008: -- This was supposed to be the year the North American big-rig truck market roared back to life after downshifting sharply in 2007, when tough new clean-air regulations took effect... But after getting off to an encouraging start in January, orders for so-called Class 8 trucks -- the big, heavy-duty vehicles used to haul freight over long distances -- stalled in February and March... That's thrown uncertainty over earnings for a host of U.S. companies scheduled to report in the next few weeks, including truckmaker Paccar Inc, engine maker Caterpillar Inc , transmission maker Eaton Corp and trailer maker Ingersoll-Rand Co... As a result, A.C.T. Research is predicting the industry will only see orders for 234,000 Class 8 trucks this year -- up just slightly from last year's trough of 212,000... Nesvold at Bear Stearns, who tracks bankruptcies filed by freight carriers who borrow from the truckmakers' captive finance arms, says those filings by distressed haulers have spiked... (Picture: Rising backlog and lower inventory could be setting the stage for a rebound)Labels: trucking markets
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