Continued Strength in Commercial Vehicle Orders
Posted by Jason Krasinskas on Thu, Apr 07, 2011
The fundamentals that support heavy-duty commercial vehicle demand continue to signal the start of an upcycle for the market, according to ACT Research Co. (ACT). Net orders for Class 8 vehicles continued to surge in January and, despite a modest falloff, commercial trailer orders remained strong. Continued strong demand for equipment indicates trucking fleets are ramping up replacement of vehicles, which has largely been deferred the past two years.
The latest release of the ACT North American Commercial Vehicle OUTLOOK, shows a continued economic recovery supporting the current order trajectory. This suggests that ACT’s forecasts for rising commercial vehicle production through 2011 and into 2012 are on track. “The initial wave of data for February reinforces our assessment of the January figures and enhances our belief that a self-sustaining recovery is underway in the USA,” said Sam Kahan,
ACT’s chief economist. We expect 2011 real GDP growth to average 3.5% on a year-over-year basis; this is toward the upper end of the forecasters range,” added Kahan. ACT is the worldwide leading publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China CV market. ACT’s CV services are used by all major North American truck and trailer manufacturers and their suppliers, as well as the banking and investment community.