Analysts: European Truck Market Has Fallen 50% in 1Q 2009

European heavy truck deliveries may have fallen by as much as 50 per cent in the first quarter of 2009, “the steepest fall for many decades,” according to Deutsche Bank. Citing anecdotal evidence, the market watchers suggest that demand may be stabilizing at the current level, which could lead to a 50 per cent fall in full-year 2009 totals. This would reportedly return demand to 1995 levels. “There are some signs that European industrial production may trough as soon as Q3, also at 1995 levels. We do not expect truck sales to recover until late 2010/early 2011,” the analysts commented. In the meantime truck stocks are said to be up 23-35 per cent over the last month.