ACT sees continued signs of stability and growth in the freight segment of the economy, which will provide a solid lift in demand for commercial vehicles over the next couple of years.
In the latest release of the ACT North American Commercial Vehicle Outlook, ACT projects full-year 2010 production of Class 8 vehicles at approximately 152,000 units, up 29 percent from a weak 2009, but still well below normal replacement demand. ACT forecasts that demand will continue to ramp up over the next two years, with production in 2012 exceeding 300,000 units. Production of commercial trailers was extremely weak in 2009, but the latest forecast from ACT expects the sector to post annual growth rates in excess of 50 percent in both 2010 and 2011.
"Our forecasts for both 2010 and 2011 have stayed in a narrow range for the past fifteen months as our model predicted a slow economic recovery and deferred investment would create a strong replacement cycle as we moved into 2011," said Kenny Vieth, president and senior analyst with ACT Research. "While headwinds make a full-blown economic recovery unlikely before 2012, recent trends in the transportation and commercial vehicle markets point toward demand for new vehicles building throughout 2011 and 2012," added Vieth.
More info: ACT Research.