Strong Freight Markets Drive CV Build Rates and Forecasts Higher

ACT Research reports greater-than-expected build rates in November

According to ACT’s latest release of the North American Commercial Vehicle OUTLOOK, greater-than-expected build rates in November, the latest available data, continued to apply upward pressure to the forecasts, which resulted in an across-the-board rise in ACT Research’s commercial vehicle demand expectations.

According to Tim Denoyer, ACT’s Vice President and Senior Analyst, “If you don’t work in a consumer facing economic sector, there is much to like about the current US economic outlook.” He added, “In a nutshell, the sectors that are propelling the economy forward are those with the greatest contribution to freight, and many of those sectors are just starting to ramp into multi-year growth cycles.”

Denoyer continued, “A favorite ACT axiom is, ‘fleets buy equipment when they make money,’ and we think truckers will generate record profits in 2021.” He explained, “That said, the list of known unknown risks has grown longer recently, including the post-holiday rise in COVID cases, a slower-than-expected roll out of the vaccine, supply chain shortages in steel and microchips, and even the peaceful transfer of power.”

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