Class 8 forecast up
Class 8 forecast up
Created: Wednesday, June 6th, 2012 10:01 am
The May issue of the ACT North American Commercial Vehicle Outlook predicted a positive market for class 8 trucks, despite slow growth in March and April. The Americas Commercial Trucking research expects the U.S. economy to continue to improve in 2012, with the trucking industry growing at a moderate pace of 2.2 percent for the remainder of the year. The positive outlook is a good sign for fleet management efforts, as companies are continuing to search for ways to reduce overall costs while boosting innovation and revenues.
The commercial vehicle outlook said the persistent slow growth in employment seen nationwide will hold the trucking industry back from a robust growth spurt in 2012. Orders for Class 8 trucks slowed in March and April as a result of numerous economic factors, including inflation rates, but are expected to increase for the remainder of the year as the national economy slowly rebounds. The trucking industry is reporting healthy trucker profits, good used truck values and a large aging fleet to be upgraded.
“Because the 2012 forecast was already discounted for risk, and because industry backlogs are large, we remain comfortable with our 2012 forecast,” said Kenny Vieth, ACT’s president and senior analyst. “Our expectations for the cycle peak in 2013 are shallower with stronger demand now stretching through 2014."
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