HEAVY-DUTY TRUCK ORDERS * USA: DROPPED in October, at depressed levels this year
* Indiana - The dropped orders in October hit two-decade high
--- Cancellations of heavy-duty truck orders soared to the highest rate in more than 20 years last month, according to ACT Research, adding to the woes of manufacturers that have seen new orders for big rigs plummet this year... Fleet owners in October canceled orders for 8,610 Class 8 truck tractors, the biggest vehicles that carry much of the country’s supply of retail goods, said Jim Meil, principal at ACT Research. That amounted to 10.5% of the backlog of the heavy-duty trucks that have been ordered but not yet built... The cancellations follow a steep decline since late 2015 in the trucking industry as carriers have pulled back fleet expansion and replacement plans amid lackluster shipping demand and slipping freight rates... Overall orders for heavy-duty trucks fell 46% year-over-year in October, extending a year-long decline in orders that has hit factory operations at companies such as truck maker Navistar International Corp. and engine manufacturer Cummins Inc...
(PHOTO: BLOOMBERG NEWS - Truck manufacturers have laid off hundreds of workers as orders have receded since 2015 after reaching high levels in 2013 and 2014) -- Columbus, IND, USA - The WSJ, by LORETTA CHAO - Nov. 18, 2016