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According to ACT Research’s latest numbers, May and June commercial vehicle orders have returned to something closer to life as usual, following the shutdowns of March and April.
“A survey of the current business landscape shows a picture of intensifying cross-currents, with an uncertain outcome,” said Kenny Vieth, ACT Research’s president and senior analyst. “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,” he continued.
By segment, Vieth commented, “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.”