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ACT Research’s 63rd Seminar: New and Used CV Demand Discussed on Day Two, TCO & Societal Cost Calculator Announced

Posted by Jennifer McNealy on Aug 12, 2020 3:30:00 PM

The second day of ACT Research’s three-day virtual Seminar 63 was held on August 12. Alternative fuels, including hydrogen and electric, to power commercial vehicles were on the agenda, as was consideration of the future for diesel engines. Industry experts’ opinions about efficiency, emissions, safety, connectivity, and regulations were some of the myriad of topics heard by the virtual audience. Additionally, ACT announced upgrades to its free, online total cost of ownership calculator, which now includes the societal costs in metric tons of CO2 per year. The calculator can be accessed by clicking here.

ACT Research holds two seminars per year for the benefit of its N.A. CV OUTLOOK subscribers. 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.

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In addition to the alternative fuel sessions, Kenny Vieth, ACT’s President and Senior Analyst, spoke about current and future Class 8 equipment demand. He noted, “On top of the continued steady roll out of good economic numbers, April’s driver capacity takeout has flipped the script on the supply-demand balance between capacity and freight. The resulting strong and sustained rally in spot rates was a key factor in this month’s forecast mark up.” Vieth added, “That said, parked drivers and parked trucks returning to the market are likely to put a temporary ceiling on rates as that capacity is redeployed throughout 2021.”

When asked about the COVID-19 impact on future demand, he commented, “Our forecast assumes broad vaccination by mid-2021. At that point, the fuller economic reopening, pent-up demand for machinery, the need for inventory restocking, and healthy housing market fundamentals should set the table for the next strong heavy-duty upcycle.”

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Again on day two, Steve Tam, ACT’s Vice President, took the microphone; this time to share comments about the US used truck market. He explained, “Even though excess freight hauling capacity and an oversupply of sleepers has conspired against used truck sellers, surprising economic resilience, and the subsequent growth in freight, looks like it might turn the market around sooner than previously expected.”

The three-day virtual seminar continues on August 13, when two panels will be featured. The first will consider current and future market trends from the perspective of dealers and truckers, while the second will discuss alternative power and panelists will offer their takes on whether or not the 2020s will still be an electrifying decade for North American commercial vehicles or if there is going to be a different alternative. Panelists include Jerold Richards, CFO of Classic Carriers, Oscar Horton, President/CEO of Sun State International Trucks, Robert Ragan, CFO of Melton Truck Lines, and Kerry Byrne, President of TQL, as well as Don Jalbert, National Sales Director for Orange EV, Thomas Healy, Founder and CEO of Hyliion, and Chris Nordh, Senior Director-Advanced Vehicle Technology & Energy Products for Ryder Systems. For information about the remainder of Seminar 63, including how to register, click here.

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.

Additionally, ACT Research has created an easily accessible COVID-19 MARKET WATCH webpage to track noteworthy high frequency macroeconomic and transportation-specific market indicators, which can be found at https://pages.actresearch.net/covid-19.

ACT’s 64th Seminar is scheduled for February 23-25, 2021. Focused on the continuous evolution and advancement of power and energy changes in the transportation and commercial vehicle markets, OUTLOOK Seminar 64 will feature key industry leaders such as Ryan Reed of Wabash National, John Bennett from Meritor, Lance Riegel of Marvin Johnson, and Dominick Beckman from Hino Motors. Look for more details on this event over the coming months and save the date for February’s event. When details are available, they may be found at www.actresearch.net/seminar64

For more information about ACT’s NA Commercial Vehicle OUTLOOK, click here.

Topics: freight rate, logistics, Press Releases, Used Trucks, supply chain, medium duty truck, commercial vehicle sales data, truck market, truck freight, north american trucking, class 8 truck, american truck and trailer, commercial truck and trailer, transportation industry news, used commercial truck, trucking, used truck values commercial, 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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