Demand for Class 8 vehicles in 2010 is expected to increase 3 percent over 2009, consistent with year-ago estimates by FTR Associates
. According to FTR's March North American Commercial Truck and Trailer Outlook Report, forecasts for 2010 and 2011 growth remain unchanged from a year ago.
For 2011, the firm expects more solid growth of over 50 percent. FTR's figures take into account negative conditions such as soft consumer spending and weak housing demand that indicate a slow recovery. New truck demand will also be hit by the continuing large overhang in underutilized and idle trucks as well as the new EPA mandated 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."
Class 8 Demand Is on Track For Slow Growth in 2010
Demand for Class 8 vehicles in 2010 is expected to increase 3 percent over 2009, consistent with year-ago estimates by FTR Associate
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