Preliminary used Class 8 volumes (same dealer sales) fell 1% month-over-month in August, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Additionally, the report indicated that longer-term comparisons yielded a 25% decline compared to August 2018, as well as a year-to-date drop of 18%, the 10th consecutive contraction for both time period comparisons.
Businesses depend on data to make decisions and solve problems. Businesses in the commercial vehicle markets depend on ACT Research for their data needs. When OEMs, suppliers, and investment firms need information on the market, ACT Research is the leading resource in the industry for analysis and data, providing both a future look at the market in the North America Commercial Vehicle Outlook, as well as a current market analysis in the State of the Industry: North American Classes 5-8 report. In the Classes 5-8 report, ACT receives monthly data for Classes 5-8 directly from the OEMs. ACT Research has been collecting this data since 1996, publishing a report and database rich in market indicators of the commercial vehicle markets. Indicators include backlog, build (production), inventory, new order, cancellation, net order, factory shipment and retail sales statistics monthly from all major North American Classes 5-8 vehicle manufacturers. Data cover the U.S., Canadian, Mexican, and export markets. A list of ACT’s commercial motor vehicle definitions can be found below.
According to ACT Research’s (ACT) latest release of the North American Commercial Vehicle OUTLOOK, the key risk to all commercial vehicle market forecasts remains the on-again trade war with China, but well-positioned consumers are keeping the US economy out of the ditch.
Kenny Vieth shared his Class 8 Review presentation at Seminar 61 on August 13th, 2019. While on stage, Kenny took a different approach than normal as he discussed the foundation of ACT's North America Commercial Vehicle OUTLOOK, establishing why it is the premier report of its kind. Since 1986, ACT Research has been working directly with OEMs as they discretely share their data and information, allowing ACT Research to have an unprecedented level of understanding of the commercial vehicle market. Couple this data with our award-winning economist, robust databases, and years of industry experience and you get a best-in-class outlook for the industry.
According to ACT Research’s (ACT) latest release of the North American Commercial Vehicle OUTLOOK, expectations for the Class 8 and trailer markets anticipate an immanent pullback in build rates, as market conditions continue to deteriorate.
Below is an excerpt from Tim Denoyer's Seminar 61 presentation on August 13th, 2019. In his time on stage, Tim discussed the current state of the freight market, including less-than truckload, truckload, and intermodal, as well as an interesting pre-ship theory that seems to still hold as of yesterday's (9.9.19) Freight Forecast release.
Seeing the entire board is important to understanding the game from each angle. That's why ACT Research is so diligent about the production of the U.S. Used Trucks Classes 3-8 report. While ACT's N.A. CV Outlook and State of the Industry: N.A. Classes 5-8 reports break down production and sales, you can't understand the market in it's entirety without knowing what trucks are already on the road. With a database of more than 700,000 transactions dating from 1996, the U.S. Used Truck report covers:
Understanding the current commercial vehicle market is pertinent for so many businesses. For sales projections and budgeting and many more reasons, understanding the current state of the industry is why ACT Research developed it's State of the Industry series, particularly the N.A. Classes 5-8 report.
Preliminary North America Class 8 net order data show the industry booked 10,900 units in August, up nearly 6% from July, but 79% below last August’s best-ever order month. Note that these numbers are preliminary. Complete industry data for August, including final order numbers, will be published by ACT Research in mid-September.