The ratio of retail sales to inventories in January for the heavy duty trucks remains elevated at the second highest in industry history. This makes production cuts the next obvious move for the industry. The inventory-to-sales numbers help present a picture of the health of the heavy-truck industry.

Sales of Class 8 trucks are expected to drop 33% this year compared to last year. Inventories remain high due to sluggish retail sales, despite "analysts" perpetually claiming that the industry is in good shape, just as they did throughout 2019 as orders fell all year long compared to 2018's robust order numbers.