NA Class 8 Net Orders Healthy in August, up Nearly 74% from Year-ago Levels

ACT Research: Demand for goods, both durable and nondurable, began to surge in May, as consumers stopped spending on experiences

According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, the US economy is recovering from the early-year pandemic-driven shutdowns, but on a K-shaped trajectory, rather than the earlier speculated V, U, or L-like paths. What this means is that a large swath of the economy has enjoyed something approximating a V-shaped recovery, even as major economic segments remain mired on an L-shaped trajectory.

“Fortunately for freight economy, the pattern has been more V-shaped,” said Kenny Vieth, ACT Research’s President and Senior Analyst. He added, “Demand for goods, both durable and nondurable, began to surge in May, as consumers stopped spending on experiences. From January to July, consumer spending on services fell 9.7%, while during the same period durable goods spending was up 10.5% and nondurable expenditures rose 4.2%.” By commercial vehicle segment, Vieth commented, “The rebound in carriers’ fortunes has been a positive for the front-end of the demand spectrum. Supported by strong US tractor demand, NA Class 8 net orders remained healthy in August, up nearly 74% from year-ago levels. Medium-duty vehicle sales also are benefiting from the consumption audible toward goods and away from services, with August’s North American Classes 5-7 net orders up 10% from July and down

Category: Cab, Trailer & Body New, Featured, General Update, News, Vehicles