Financial PerformanceThe combination of a lowered US & Canada industry unit sales outlook and a softer than expected Truck, Parts & Other gross margin guidance bolstered bears' concerns over an industry slowdown.
Inventory LevelsElevated inventory levels of both HD and MD trucks in North America are a concern, with ratios significantly above historical averages.
Pricing PressureInvestors were particularly troubled by the commentary around pricing pressures in both the Truck and the Parts businesses resulting from near-term softness, causing shares to tumble.