Long-term outlook: Strong Class 8 truck demand
Demand for commercial vehicles continues to be solid according to the latest data from ACT Research, Strength continues across all segments of the commercial vehicle market, but recent slowing in momentum in freight movement must continue to be monitored.
“Our expectations in the near-term are somewhat tempered by the softness in the second quarter of the year,” states Sam Kahan, ACT’s chief economist. “While the economy continues at a rather slow pace, Class 8 truck demand continues to be strong, driven by longer-term demand factors rather than the short-term gyrations of the economy. Ability to build still appears to be the overarching factor impacting 2011 Class 8 volumes.”
The July issue of the ACT North American Commercial Vehicle OUTLOOK shows that Class 8 backlogs rose for the ninth consecutive month, as the industry order boards reflect pent-up replacement demand and the fleets’ financial ability to fulfill that demand.