COLUMBUS, Ind. -- ACT Research says a recent softening of Class 8 truck orders is not enough to derail its projections for 2012 build and sales forecasts.
In its May issue of the ACT North American Commercial Vehicle Outlook, ACT reported that it expects US economic activity to expand at a “moderate” pace of 2.2%, with slow employment growth acting as a brake on more robust growth.
Class 8 truck orders have slowed in March and April to “below expectations,” but ACT says it won’t be downgrading its full-year expectations.
“Because the 2012 forecast was already discounted for risk, and because industry backlogs are large, we remain comfortable with our 2012 forecast,” said Kenny Vieth, ACT’s president and senior analyst. Vieth cited healthy trucker profits, solid used truck values, an old fleet, and a clear path to continued profitability as factors supporting the forecast.
“Our expectations for the cycle peak in 2013 are shallower with stronger demand now stretching through 2014,” he added.