NASHVILLE, Ind. — The latest data from FTR Associates continues to show a slow improvement in Class 8 truck demand in 2010.
The forecaster’s March North American Commercial Truck and Trailer Outlook report forecasts that 2010 Class 8 vehicle demand will increase just 3% over 2009. The report suggests demand will jump more than 50% in 2011.
The forecast considers that while economic conditions are improving, a weak housing market and soft consumer spending are still taking a toll. There also remains a large overhang in underutilized and idle trucks and of course the cost of EPA2010 engine technology.
“Our forecast from February 2009 – 13 turbulent months ago – is being confirmed by current market conditions and remains unchanged,” said Eric Starks, president of FTR. “Everyone in the industry would have been glad to see improvement in demand before now, but our forecast models showed us that wasn’t likely until 2011.”
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News