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ACT Research: Class 8 market-leading indicators continue to erode

According to ACT Research’s latest State of the Industry: Classes 5-8 Report, Class 8 market-leading indicators continue to erode, in concert with deteriorating freight volumes and rates, even as mid and downstream data points remain robust, ACT says.

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David Sickels is the Associate Editor of Tire Review and Fleet Equipment magazines. He has a history of working in the media, marketing and automotive industries in both print and online.

ACT-class-8-erosion-chart

According to ACT Research’s latest State of the Industry: Classes 5-8 Report, Class 8 market-leading indicators continue to erode, in concert with deteriorating freight volumes and rates, even as mid and downstream data points remain robust, ACT says.

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“Ultimately, the current situation of weak orders and strong builds is unsustainable,” said Kenny Vieth, ACT Research’s president and senior analyst. “July orders conformed to traditional seasonal patterns, falling 80% year-over-year, while industry build posted its second strongest per-day rate since November of 2006. This order-to-build imbalance has caused backlogs to tumble since their October 2018 peak. Unfortunately, without a catalyst in sight, it is a trend that we expect to continue.”

Regarding the medium-duty markets, Vieth commented, “Medium-duty metrics remain in better balance, but there are signs of modest fraying, with orders below year-ago levels for a seventh consecutive month in July, the build rate accelerating, backlog falling, and inventories rising. While below the rate of build, retail sales continue strong.”

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