Interesting report here that suggests a renewed market confidence in the US heavy truck sector.

We couldn’t agree more with Volkmann’s view on PACCAR – with European business now accounting for – by our estimates – 55 per cent of total revenues – there can be no doubt that a European downturn is going to hit Bellevue hard.

But as to the general sentiments, and an upturn in the US during 2008; not while we have a hole etc. The downturn is here, and will be staying a while yet.