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ACT Research: CV industry looking toward recovery

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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.

In the release of its Commercial Vehicle Dealer Digest, ACT Research says it found more to like about the state of the economy today than was visible a month ago, now that U.S. re-opening is underway.

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“The re-openings that have been occurring since late April represent the first steps in the march toward economy recovery, and green shoots are sprouting thanks to massive stimulus from congress and the federal reserve,” said Kenny Vieth, ACT’s president and senior analyst. “Despite that investment, which is helping to put the economy back on track, the pandemic remains a ticking clock for many Americans whose unemployment benefits will start expiring in September.”

Specifically regarding how the CV industry might be moving forward, Vieth commented, “Demand recovery beyond replacement levels is a process that takes quarters to achieve. We see the economy expanding rapidly in 2021, creating an imbalance between effective capacity, the ability to get drivers back into seats in real time, and freight demand. When that imbalance comes, it will be the match that lights the long fuse on a meaningful volume recovery. At that point, on top of market-driven demand, short-trade cycle fleets will have considerable pent-up replacement demand. That replacement activity will be supported by strong demand for desirably-spec’d late-model vehicles.”

In recognition of the virus’ impact, ACT Research has created a COVID-19 Market Watch webpage to track noteworthy high frequency macroeconomic and transportation-specific market indicators, which can be found here.

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