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Analysis * USA - Trucking Sector May No Longer Trail
Jefferies says the group will be one of the first to recover
New York,NY,USA -Barron's, by Stephen Volkmann & Chris Edwards -September 2, 2009: -- The truck sector should be one of the first to recover from the recession. ACT Research's preliminary industry truck-order data for August were strong, with heavy-duty vehicle orders continuing to climb sequentially and medium-vehicle orders up on lumpy bus orders... Our top pick is Navistar International, a pure play on the North American truck-market recovery, followed by Paccar, the premium name in the space... ACT reported August preliminary heavy-duty (Class 8) industry truck orders of 11,000, about 1,800 higher than the 9,164 posted in July, and the highest total since November... Net orders for medium (Class 5-7) vehicles increased to 10,100 in August from 4,563 in July... We expect that Class 5-7 orders are likely to return to mid-single-digit levels next month... We expect that the medium-vehicle market is likely to remain tough through the end of the year and that a significant pickup might not occur until well into 2010... (Picture from officefurnitureexpress.co.uk: trucks)
Labels: trucking industry analysis USA
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