ACT Research: June CV Data Returning Closer to Normal Levels
JUL 20, 2020 - 6:41 am
According to ACT Research’s latest State of the Industry: NA Classes 5-8 Report, May and June returned to something closer to life as usual following shutdowns related to the COVID-19 pandemic in March and April.
“A survey of the current business landscape shows a picture of intensifying cross-currents with an uncertain outcome,” Kenny Vieth, president and senior analyst for ACT Research, said. “On one side, the economy and motor freight have been surprisingly strong from the beginning of May to mid-July, resulting from dialed back restrictions on workplaces, relaxed shelter-in-place, and the associated revival in business and social activity. However, closely associated with return-to-normal has been its downside: the rise of COVID-19 cases.
“It is important to note that unlike previous business downcycles, this recession has had its most severe impact on service sectors, and while important, they tend to be less intense users of truck transportation. The revival of the economy and freight is readily apparent in the sharp increase in Class 8 net orders in June, with upgrades in production as well. Classes 5-7 orders continued their rebound in June, marking the best sequential gain since August 2009.”
ACT’s State of the Industry: NA Classes 5-8 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 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, while Class 8 is segmented by trucks and tractors with and without sleeper cabs. This report includes a six-month industry build plan, backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a graph package.
As the delta variant threatens to upend many back-to-the-office plans, we face ongoing remote and hybrid working conditions. What types of issues can arise when teams are working in a hybrid manner and how can we use technology to solve... read more
Typically, the sales force represents a substantial portion of an equipment finance organization. In the case of banks and independent funding sources, they can choose to employ a direct sales force or work with a channel of indirect originators commonly... read more