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ACT Research: COVID-19 Little Impact on February CV Data, Future...

Posted by Jennifer McNealy on Mar 17, 2020 7:37:23 PM

According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, Class 8 inventory-to-sales ratio, seasonally adjusted, hit 3.5 months in February, while the Classes 5-7 inventory-to-sales ratio dropped from a “highest in a decade” in January to 3.0 months in February.

ACT’s State of the Industry: NA Classes 5-8 report provides a monthly look at the current production, sales, and general state of the on-road heavy and medium duty commercial vehicle markets in North America. It differentiates market indicators by Class 5, Classes 6-7 chassis and Class 8 trucks and tractors, detailing measures such as backlog, build, inventory, new orders, cancellations, net orders, and retail sales. Additionally, Class 5 and Classes 6-7 are segmented by trucks, buses, RVs, and step van configurations, while Class 8 is segmented by trucks and tractors with and without sleeper cabs. This report includes a six-month industry build plan, backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first-look at preliminary net orders is also published in conjunction with this report.

animation - 2020-03-18T101506.623“From a current data perspective, regardless of source, February marks the last month of essentially COVID-free datapoints,” said Kenny Vieth, ACT Research’s President and Senior Analyst. He continued, “While some portion of the US population was working on the assumption that the virus was ‘fake news,’ the rest were still getting their heads around concepts like ‘social separation’ and ‘exponential.’ Decrements in the March data releases will be nothing to compare to the April data we will see in May.”

Speaking about the heavy-duty market, Vieth said, “The Class 8 market in February continued to operate in line with pre-pandemic expectations: massive 2019 demand for Class 8 tractors in a period of falling industrial activity created significant overcapacity that, in turn, caused carrier profitability to fall sharply through the course of last year, setting the stage for weak demand in 2020.”

Regarding the medium-duty markets, he commented, “Prior to COVID-19, medium duty vehicles were benefitting from the strong consumer economy. With the service sector being undermined presently, it is difficult to imagine that Classes 5-7 commercial vehicles won’t be hit hard as a result.”

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.

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Access more information about ACT’s State of the Industry: Classes 5-8 Report.

Access more information about ACT Research’s other publications and services, click here.

See February's State of the Industry: NA Classes 5-8 Press Release.

Access In the News Page.

 

Topics: freight, logistics, Press Releases, class 5-8 trucks, class 8 trucks, commercial truck report, supply chain, medium duty truck, truck market, north american trucking, class 8 truck, american truck and trailer, commercial truck and trailer, transportation industry news, trucking, HeavyDuty, heavy duty truck, class8

About ACT Research

We're the leading publisher of industry data, market analysis, and economic forecasting services for the commercial vehicle and transportation industries.

2019 Lawrence R. Klein Award Winner: Most Accurate Economic Forecast 2015-2019

  Partner to LMC Automotive and the Chinese State Information Center

  Contributor to the Blue Chip Financial and Wall Street Journal Consensus Economic Forecast


 

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