According to ACT Research’s recently released Transportation Digest, the current business environment for heavy-duty trucks doesn’t get much better than this.
The report, which combines proprietary ACT data and analysis from a wide variety of sources, paints a comprehensive picture of trends impacting transportation and commercial vehicle markets. This monthly report is designed as a quick look at transportation insights for use by fleet and trucking executives, reviewing top-level considerations such as for-hire indices, freight, heavy and medium duty segments, the US trailer market, used truck sales information, and an overview of the US macro economy.
“Demand for commercial vehicles in North America is about as good as we’ve seen in 35 years of monitoring heavy-duty market conditions,” said Kenny Vieth, ACT’s President and Senior Analyst. He continued, “Times are so good that demand is far outrunning the industry’s ability to supply right now, and that will likely remain the case into the autumn and perhaps even through the winter.” Vieth added, “This would mark an unusual extension of peak demand for a period not impacted by an emissions-related prebuy.”
Regarding the COVD impact on the trucking industry, Vieth noted, “The roller coaster ride down and up of the COVID cycle was about the same as in the Great Recession, but the duration of the ride is happening in only 25% of the elapsed time. COVID triggered a super-compressed cycle, resulting in incredible pressure on supply chains to respond – and on a synchronized global level.” He concluded, “When you add in considerations unique to the COVID period, like workplace safety measures, wearing PPE, worker absenteeism, and government and employer activity restrictions, it’s amazing that the bullwhip effect hasn’t been even tougher.”
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 in early April, 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.