“COVID-19 Added to this Uncertainty:” Orders & Sales of Heavy Trucks & Medium-Duty Trucks Plunge in the US | Wolf Street

“COVID-19 Added to this Uncertainty:” Orders & Sales of Heavy Trucks & Medium-Duty Trucks Plunge in the US | Wolf Street

So Navistar International reported Q1 results this morning. It swung to a net loss of $36 million in the quarter ended January 31, as total revenues plunged 24.5%, to $1.84 billion. Net sales in its Truck segment plunged 31% to $1.24 billion.

And new orders for trucks have essentially collapsed, which bodes ill for revenues going forward. These orders may be for units that have been sold to a specific customer, such as a trucking company, or for units built for dealer inventory to be sold eventually to a customer. These are the net orders (new orders minus cancellations) in Q1, and only school buses did well:

via “COVID-19 Added to this Uncertainty:” Orders & Sales of Heavy Trucks & Medium-Duty Trucks Plunge in the US | Wolf Street