Hyster-Yale Sees 4Q Decline in Lift Truck Market From 2022 — Commodity Comment

By Stephen Nakrosis

Hyster-Yale Materials Handling, maker of lift trucks and after-market parts, said the fourth-quarter global lift truck market is expected to decline from the year-ago period.
However, the company also said global market bookings are expected to be generally comparable to 2023 levels next year, “with an anticipated first-half decline expected to be offset by a second-half increase.”

Outlook for volumes the remainder of this year and next:
Market unit volumes are projected to remain strong and above pre-pandemic levels in most regions.
“Many external market factors, including geopolitical instability, most recently evidenced by the Israel/Gaza conflict, continue to create a significant amount of uncertainty within the global economic environment. As a result of this, as well as abnormally high volumes during the 2020 to 2022 pandemic period, market activity has been moderating in certain parts of the world across 2023, particularly in EMEA,” the company said.
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