COLUMBUS, Ind. –ACT Research has forecast that commercial vehicle demand will grow modestly in 2010 and then experience “significant growth” in 2011.
The projections were revealed in the latest ACT North American Commercial Vehicle Outlook. The report indicates 2009 commercial vehicle production has reached the lowest level since 1991.
Class 8 vehicle production is expected to grow 22% in 2010, but will remain below vehicle replacement levels. Class 8 production will surge an additional 69% in 2011, ACT predicts.
Medium-duty production is expected to experience year-to-year growth of about 30% in both 2010 and 2011.
“There are still a number of hurdles to clear in the coming quarters, including continued excess trucking sector capacity, a soft used truck market, tight credit, and weak freight rates,” said Kenny Vieth, partner and senior analyst with ACT Research. “However, the fleet is aging and truckers are increasingly making comments about the condition of their fleets. When the freight market regains solid footing, the recovery in commercial vehicle demand promises to be vertical.”
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