Preliminary NA Class 8 net orders in March were 40,000 units, down 10% from February, but a whopping 424% higher than March of last year’s COVID-stricken intake. NA Classes 5-7 demand, with orders at 31,400 units, were up 19% from February. Demand was more than double (103%) its year-ago level. Complete industry data for March, including final order numbers, will be published by ACT Research in mid-April.
ACT’s State of the Industry: Classes 5-8 Vehicles 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 activity-related 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. The Class 8 market is segmented into trucks and tractors, with and without sleeper cabs. The report includes a six-month industry build plan, a 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.
“Fanning the flames of an already robust economy, $1.9T in additional stimulus has started filtering its way into consumers’ pocketbooks,” said Steve Tam, ACT’s Vice President. He continued, “In addition, the prospect of a $2T infrastructure bill has consumers and businesses setting their sights higher for both the near- and mid-terms. And, included in that outlook appears to be a need for an increasing number of commercial vehicles.”
Regarding the HD market, Tam commented, “Despite retrenching from February, Class 8 demand remained strong in March, well above replacement and even anticipated economic growth, let alone the industry’s ability to keep pace in the current supply chain constrained environment.” He noted, “In similar bullish fashion, consumer demand, fueled at least in part by the optimism associated with the nearly $2T in recently approved stimulus, has caused buyers of medium-duty commercial vehicles to remain at the demand trough for yet another month. This is particularly interesting, given the medium duty’s second fiddle position in the supply chain pecking order.”
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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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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