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Nov 7, 2015

TRUCK SALES * USA: New orders for tractor-trailers fell 45% in October

* NY - Trucking companies scale back fleet purchases on tepid demand

-- Orders for new tractor-trailers plummeted in October, typically a bellwether month for commercial transportation equipment, as trucking companies contended with depressed freight rates, flagging demand and excess capacity... Trucking companies placed orders for 25,000 new Class 8 trucks, the heavy-duty trucks that are the backbone of domestic freight shipping, according to the FTR transportation research group... That was down 45% from October 2014, although 30% higher than September. ACT Research, another transportation data firm, reported almost identical numbers for Class 8 vehicles... Stifel analysts attributed the soft orders result to softer freight volumes, falling prices for used tractors, lower average equipment ages, lower diesel prices, which reduce truckers’ incentive to upgrade to the newest, most fuel-efficient vehicles and high inventories of trucks that have been built, but not yet sold. Stifel predicts annual production of Class 8 trucks will fall to 280,000 in 2016 from 330,000 in 2015... 
(PHOTO: BLOOMBERG NEWS - Analysts said the weak orders in October, a critical month for purchases, signal trucking companies will restrain capacity growth in 2016) -- New York, NY, USA - The WSJ, by ROBBIE WHELAN - Nov. 4, 2015

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