"On top of lower than expected Class 8 orders, cancellations also spiked in September, " said Kenny Vieth, ACT's president and senior analyst. "While low historically, they deviated from the recent trend, rising to 2.3 percent of backlog. October is usually the top cancellation month, suggesting cancellations are likely to be above the recent trend again next month."

ACT publishes new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China CV market.

Source: ACT Research