Well, that was one trucking year. While the pandemic brought dark times in 2020, trucking was a bright spot. Trucks kept rolling, fleets kept delivering and the country and economy chugged along in an alphabet soup of letter-shaped recovery. Who could have guessed that 2020 would just be a prelude to the market madness of 2021? Right off the bat, supply issues cropped up quickly, and have showed no sign of easing any time soon.
On top of that, freight demand and, in turn, demand for commercial vehicles continues to remain strong. The only problem is that there’s a shortage of, well, everything. (Seriously, everything.) Questions about the trucking market ask themselves at this point: How long can the supply shortage go on? How much demand can consumers muster? Will something have to give? And, of course, what does this mean for fleets moving goods around the country with trucks that are only getting older?
For answers, I turned to Kenny Vieth, president and senior analyst, ACT Research. We have a budding tradition of catching up in December to do a deconstruction of the year and break out the crystal ball to see what’s ahead for next year. Kenny gave us his take on how he sees the market shaking out and answers the question: Is there any market or economic precedent for our current predicament?
Watch the video above for all of his insight.
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