ACT Research has increased its 2010 forecast for heavy-duty vehicle production by 4,500 units, putting year-over-year growth at 23 percent.
The analyst group also slightly boosted predictions for 2011, with expected year-over-year growth at 62 percent.
In the latest release of the ACT North American Commercial Vehicle Outlook, ACT pointed to the strengthening North American economy and improvements in freight demand as primary factors in the rebound of truck orders and production.
"The increase in our heavy-duty forecast is based on widespread strength in orders over the past few months," said Kenny Vieth, senior analyst and partner with ACT Research. "We are seeing improving orders across OEMs and geographies, confirming that the broader market has started the long process of replacing the fleet."
However, ACT reduced the forecast for medium-duty vehicle production, as the housing and construction sectors struggle to regain footing.
The analyst group also slightly boosted predictions for 2011, with expected year-over-year growth at 62 percent.
In the latest release of the ACT North American Commercial Vehicle Outlook, ACT pointed to the strengthening North American economy and improvements in freight demand as primary factors in the rebound of truck orders and production.
"The increase in our heavy-duty forecast is based on widespread strength in orders over the past few months," said Kenny Vieth, senior analyst and partner with ACT Research. "We are seeing improving orders across OEMs and geographies, confirming that the broader market has started the long process of replacing the fleet."
However, ACT reduced the forecast for medium-duty vehicle production, as the housing and construction sectors struggle to regain footing.
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