According to ACT’s latest release of the North American Commercial Vehicle OUTLOOK, the question of commercial vehicle demand for 2021 has already been answered, and for the first time ever, this perspective is illuminated by all positive indicators on ACT’s Class 8 Tractor Dashboard.
The N.A. CV OUTLOOK is a robust report that forecasts the future of the industry, looking at the next 1-5 years, with the objective of giving OEMs, Tier 1 and Tier 2 suppliers, and investment firms the information needed to plan accordingly for what is to come. The report provides a complete overview of the North American markets, as well as takes a deep dive into relevant, current market activity to highlight orders, production, and backlogs, shedding light on the forecast. Information included in this report covers forecasts and current market conditions for medium and heavy-duty trucks/tractors, and trailers, the macroeconomies of the US, Canada, and Mexico, publicly-traded carrier information, oil and fuel price impacts, freight and intermodal considerations, and regulatory environment impacts.
According to Kenny Vieth, ACT’s President and Senior Analyst, “April’s Tractor Dashboard rose to its maximum value of 15, with all indicators flashing positive.” He added, “The average reading across the past four months is an unprecedented 13.5 reading.”
He explained, “For the unfamiliar, the Dashboard is a collection of 15 forward-looking demand indicators that provide three to six months of forward visibility for orders. The metric is comprised of economic, freight, and ACT/industry-specific data series. In April’s greatest-of-all-time print, optimists and pessimists can agree, ‘it doesn’t get any better than this’.”
Vieth concluded, “The order lines on the Dashboard graph illustrate the current rollover in the order trend. One will note the drop in the order trend preceding the opening of subsequent years’ orders in each of the last two cycles, with significantly higher orders booked ahead of the second year of the cycle. Given recent historical precedent, and with appropriate caveats in place, we would expect orders to warm starting in June, with a material jump beginning in July.”
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.
What’s coming next in 2021 and 2022? ACT’s 65th OUTLOOK Seminar is the planning event for your business needs. Mark your calendar for August 24-26, 2021 to gain market updates and forecasts from ACT’s award-winning, veteran team with more than 200 years of combined industry experience. Click here for more details.
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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