ACT Research: CV Demand Remains “As Good As It Gets”

In the release of its Commercial Vehicle Dealer Digest, ACT Research reported that commercial vehicle demand-side activity remains at as-good-as-it-gets levels.

The report, which combines ACT’s proprietary data analysis from a wide variety of industry sources, paints a comprehensive picture of trends impacting transportation and commercial vehicle markets. This monthly report includes a relevant but high-level forecast summary, complete with transportation insights for use by commercial vehicle dealer executives, reviewing top-level considerations such as for-hire indices, freight, heavy and medium duty segments, the total US trailer market, used truck sales information, and a review of the US macro economy.

Used 9.30.21Regarding demand metrics, Kenny Vieth, ACT’s President and Senior Analyst, noted, “ACT’s freight-weighted GDP metric is projected to expand by a record 13% in 2021, and robust freight markets and ongoing driver supply constraints pushed spot and contract freight rates, net fuel, to record highs in August.” He continued, ”Port and railroad capacity constraints and strong demand have created large freight backlogs on the coasts, and front-side industry metrics remain hot, even as Class 8 and trailer orders have moderated in recent months due to heavily-filled and oversubscribed 2021 backlogs and still not fully opened 2022. Additional constraints on orders in this best-ever environment include difficulties establishing pricing, as commodity prices spiral and amid production uncertainty relating to parts availability.

About the supply side, Vieth added, “In the current period of [near] record demand for commercial vehicles of all stripes, the story the past few months has shifted from one of abundance to one of constraint. While we say ‘semiconductors’ as a generic reference to the supply-chain’s shortcomings, in actuality there are scores of parts that continue to be impacted by the pandemic, by the lingering impact of steel tariffs, and even by the February storm that incapacitated Texas and shutdown swathes of the US plastics industry.” He concluded, “And, like the supply chains themselves, the issues are not only domestic and not only commercial vehicle.”

ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.

ACT’s commercial electric vehicle study, Charging Forward: 2020-2024 BEV & FCEV Forecast & Analysis, was published on March 31, 2021, after months of extensive research. Utilizing industry expertise and analysis, as well as the input from a comprehensive list of key industry study participants, ACT Research has developed a critical guide for battery electric and fuel cell electric unit build and sales forecasts over the next two decades. With coverage of Classes 4-8 commercial vehicles, ACT has identified 14 market subsegments and more than 20 application types; this one-of-a-kind report is a must-have for those investing or investigating electric power opportunities. To learn more or to purchase this report, click here

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