ACT: Rising CV Demand Forecasts Represent Pull-Forward of Cyclical Expectations
OCT 30, 2020 - 7:50 am
In the release of its Commercial Vehicle Dealer Digest, ACT Research reported that the company increased its commercial vehicle demand forecasts across the board.
The report, which combines ACT’s proprietary data analysis from a variety of industry sources, paints a picture of trends impacting transportation and commercial vehicle markets.
“Rising commercial vehicle demand forecasts represent a pulling-forward of cyclical expectations for economic activity,” Kenny Vieth, president and senior analyst of ACT Research, said. “That said, given low build rate starting points and factoring in historical precedent, we would note that 2021 Class 8 and trailer forecasts are approaching their maximum potential.
“Given already rising carrier profitability metrics and already strengthening orders, we would recommend the supply base should be planning for a strong demand uptick early next year. When truckers make money, they buy equipment, and freight volume and rate metrics are pointing to a very strong carrier profitability environment heading into 2021.”
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