MIAMI – Some industry observers attending the Truck Renting & Leasing Assn.’s 23rd annual meeting say they believe the production of new trucks has finally bottomed out.
Frank Sheehan, vp-sales and marketing for Dana Heavy Truck Group, said Class 8 production is down 55% from last year, with medium truck production down 30%. That translates into total truck production volume of 11,000 to 12,000 new units a month for a projected total of 140,000 new units this year.
“I think we are at the bottom in terms of falling truck production,” Sheehan said. “Now the question is how long will low production volume last?”