US trailer order placement continues to be choppy
June net US trailer orders of 25,444 units were 31% higher compared to last month, and nearly 122% above the year-ago June level, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report. “Order placement remained choppy in June, with dry van and bulk tank net orders sequentially increasing by
Inflation, interest rates, recession and supply chains still overarching themes
According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, surging inflation, the Fed hiking interest rates into a potential recession, and supply-chain disruptions remain overarching themes. According to Kenny Vieth, ACT Research’s President and Senior Analyst, “The prospect of a US recession has grown materially since Russia’s invasion of Ukraine, and
ACT Research Class 8 tractor dashboard still downbeat
ACT Research’s recently released Transportation Digest, the top line on the Class 8 Tractor Dashboard was unchanged in May, the third month of moderately downbeat readings. “Our interpretation of the recent Tractor Dashboard reading is a gradual erosion of Class 8 market demand into the second half of 2022, but no ‘spiral down’ and certainly not
ACT Research: U.S. used truck prices softening
Preliminary used Class 8 retail volumes (same dealer sales) rose 6% month-over-month, but were 39% lower compared to June of 2021, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Other data released in ACT’s preliminary report included month-over-month comparisons for June 2022,
Mild recession now base case in forecasting of NA CV markets
According to ACT’s latest release of the North American Commercial Vehicle OUTLOOK, ACT lowered their GDP forecast, but continues to believe there is enough pent-up demand, and built-up purchasing power among consumers, albeit mitigated by inflation, to support growth in 2022. ACT’s analysts also believe tighter monetary policy will lead to GDP contraction in the first half
ACT Research Class 8 Tractor Dashboard drops again
According to ACT Research’s recently released Transportation Digest, the top line on the Class 8 Tractor Dashboard dropped again in April. “The Tractor Dashboard result affirms the steady and steep erosion in prospective business conditions for Class 8 tractors that has been the rule through calendar year 2022,” said Kenny Vieth, ACT’s President and Senior Analyst.
Seasonally adjusted June Class 8 truck orders in line with YTD average
Preliminary NA Class 8 net orders in June were 15,500 units, while NA Classes 5-7 net orders were 17,800 units. Complete industry data for June, including final order numbers, will be published by ACT Research in mid-July. “Seasonal adjustment lifts the Class 8 June total to 18,300, representing the strongest seasonally adjusted total since March
Used Class 8 retail sales volumes, average age higher in May, while price, miles slightly lower
According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 retail volumes (same dealer sales) were 8% higher month-over-month. Longer term, volumes were down 38% y/y. Average price and miles were each down 2% compared to April, but average price rose 64%
Industry’s ability to meet demand still impacted by supply-chain constraints
According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, Russia/China supply-chain disruptions, raging inflation, higher interest rates, and recession potential continue to dominate the narrative. “Russian commodities remain locked out of Western markets, Ukraine remains besieged, and China continues to struggle with COVID and lockdowns,” Eric Crawford, vice president and senior analyst,
U.S. used truck sales cycle at the ‘beginning of the end’
Preliminary used Class 8 retail volumes (same dealer sales) fell 10% month-over-month, and were 40% lower compared to May of 2021, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. “Unfortunately, long-awaited reports of loosening inventories come at exactly the wrong time in
Domestic demand for commercial vehicles in China softened in Q1 ’22
According to the recent release of ACT Research’s China Commercial Vehicle Outlook, the Chinese commercial vehicle market has been reacting to the domestic and global surges of COVID, long-term pressures of market restructuring and new emissions regulations. Domestic demand for heavy trucks fell more than 50% y/y, while the tractor market shrank almost 67% y/y and
Freight market pendulum gains momentum
ACT Research released the latest installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report, which noted that growing evidence of weaker goods consumption, rising services substitution and rebuilt inventories, with some categories now overstocked, was the most impactful news in freight this month. “Recent reports from key retailers, including price cuts and order cancellations
