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Oct 11, 2016

NEW TRUCK SALES * USA - Orders sank in September

* Indiana - Faced with a weak freight market, trucking companies aim to reduce capacity


--- Orders for new big-rig trucks fell 27% in September compared with a year earlier, to the lowest level for that month since 2009, as the freight market struggled to reduce capacity amid tepid shipping demand... Trucking companies ordered 13,800 of the largest type of commercial tractor-trailers in September, according to data provider FTR Transportation Intelligence... “It remains crystal clear that truckers are still struggling to balance excess freight hauling capacity in the context of anemic freight growth,” said Steve Tam, vice president at ACT Research, which reported similar figures... Stifel Financial Corp. analyst Michael Baudendistel wrote September is typically the weakest month for new truck orders, and said he expects sales to pick up in October. The company expects manufacturers to produce 230,000 of the heavy-duty vehicles in 2016, a decline of 29% from the previous year, and 200,000 units in 2017. The bank expects production to pick up slightly in 2018...
(PHOTO: BLOOMBERG NEWS - U.S. fleet operators last month cut purchases of new big-rigs amid tepid demand for their services) -- Bloomington, IND, USA - The WSJ, by ROBBIE WHELAN - Oct. 5, 2016

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