According to ACT’s latest release of the North American Commercial Vehicle OUTLOOK, there is considerable steam left in the boiler that will continue to propel the economy broadly, and freight markets specifically.
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, “The sugar rush of stimulus money began rolling-off at an increasing pace in June, and with extended unemployment benefits being curtailed in roughly half the United States, employment numbers, including new jobs in trucking, jumped.” He continued, “As US industry shakes off the rust and capacity comes back on line, we are reminded of the old chestnut, ‘the cure for high prices is high prices’. With prices for many commodities reaching new records in 2021, there is a great desire to bring new capacity on line to take advantage of the bonanza.”
Vieth added, “While there are signs of moderation, and the economy is closer to reaching the ‘end of the beginning’ of this year-old up-cycle, the ‘beginning of the end’ is not yet on the radar.”
When asked about commercial vehicle demand, he commented, “Medium-duty, heavy-duty and trailer backlogs are essentially filled through 2021 and into 2022, with backlog-to-build ratios well above traditional ranges. Class 8 and trailer orders remain constrained on limited calendar-year 2022 build slot access, and with demand hot and production constrained, inventories have narrowed considerably.”
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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