COLUMBUS, Ind. – The North American Commercial Vehicle OUTLOOK report from ACT Research shows an anticipated surge in Class 8 tractor orders coupled with robust, pent-up demand at the year’s end.
“In line with expectations, the industry has witnessed a surge of Class 8 orders,” Kenny Veith, ACT president and senior analyst, said. “The resulting growth in order backlogs supports higher production and gives OEMs and suppliers good visibility through (the first part of 2023).”
Veith said that with strong demand in place and inflation metrics moderating, he is more convinced that first half build rates will be sustained deeper into 2023.
“Supporting the upwards Class 8 revision, we have tempered the severity of the decline we anticipate in freight activity in 2023.” Veith said. “To be clear, we continue to expect a macro recession, and a slight year-over-year decline in Class 8 build, but recent economic reports and still strong Class 8 fundamentals have us thinking in a more encouraging direction.”
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