February 3, 2016 / 6:58 PM / 2 years ago

Preliminary U.S. January truck orders down 48 percent: FTR

CHICAGO (Reuters) - U.S. January Class 8 truck orders fell 48 percent on the year, preliminary data from freight transportation forecaster FTR showed, indicating that 2016 could be another weak year for truck makers.

FTR estimated that orders for the heavy trucks that move goods around America’s highways totaled 18,062 units in January. This follows on from a full-year decline in 2015 of nearly 25 percent to 284,000 units from 276,000.

“It is not looking to be a strong year,” for the market, FTR chief operating officer Jonathan Starks said in a statement. 

Amid uncertainty over U.S. economic growth and a lackluster performance for retailers in the fourth quarter, trucking companies have been holding back on buying new models.

Reporting By Nick Carey; editing by Grant McCool

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