ACT Research recently released their latest report, noting the conditions of the North American trucking market. Good news for carriers like TitanTransline.com, as Class 8 net orders totaled to 38,900 units, which is a 27% increase from September 2020, and a 78% increase from October 2019.
Their report also added that NA demand for Classes 5-7 went up to 29,300 units, which is the highest it’s been since March 2018. That volume represents a 6% increase from September 2020, and a 84% increase compared to October 2019.
ACT President and Senior Analyst Kenny Vieth stated that October NA Classes 5-8 vehicles order went up to 68,200 units, which they attribute to increased consumer demand for goods. They added that this was also a 17% increase from September 2020, and an 80% increase from October 2019.
Vieth says that October 2020 saw that largest Class 5-8 tally in 26 months, and the month’s orders is the fifth consecutive year with positive numbers, which followed 18 consecutive months of negative numbers.
With regards to the medium-duty truck market, Vieth explained that heavy-duty freight rates and medium-duty demand have a symbiotic relationship. This means that, with the shift to consumer spending from experiences to goods, local trucking service providers like TitanTransline.com are seeing good growth, as e-commerce has been growing rapidly amidst the pandemic.
The report by the ACT, named State of the Industry: Classes 5-8 Vehicles, is a monthly publication that takes a good look at the state of the on-road heavy and medium duty commercial vehicle markets in the North America region, looking at things like production, sales, and the general state of the market in general.
The report differentiate market indicators, split by Class 5, Classes 6-7 chassis, and Class 8 trucks and tractors, with detailed measurements of backlogs, builds, cancellations, inventory, net orders, new orders, and retail sales.
Class 5, and Classes 6-7 are further divided into configurations, while Class 8 market is divided into trucks and tractors, with and without sleeper cabs.
The report also came with a six-month build plan for the industry, a backlog timing analysis, a ready-to-use graph package, and other details. A look at preliminary net orders by the ACT was also published alongside the report.