COLUMBUS, Ind. — The latest release of ACT Research’s For-Hire Trucking Index indicated that October’s volume reading surged to the highest level since March 2011 at 75, the company said Wednesday.
“Seasonally adjusted, the volume index was 75 but this was a record level for our survey,” said Tim Denoyer, ACT Research’s vice president and senior analyst.
Twenty-nine percent of respondents reported having significant gains, 46 percent had modest increases, and 21 percent were flat.
Just 4 percent of fleets had significant decreases.
The pricing index also jumped to a reading of 75 in October, hitting the highest level recorded since April 2011.
“Seasonal adjustment raises the reading slightly, and the 75.5 reading was the strongest in our survey’s history on this basis,” Denoyer said, adding that 18 percent of respondents reported having significant gains, 64 percent had modest increases and 18 percent were flat.
Driver shortage continues to be a problem for fleets, with executives aggressively planning to remedy the issue, according to spokesmen.
“October demand was strong, rates are up, but still no drivers,” said one fleet.
“Hiring drivers is absolutely the most critical initiative for us in 2018,” noted another executive.
Also Wednesday, ACT Research announced a 2017 update to its Global Trailer Market Analysis & Forecast white paper.
The 40-plus page paper and a supporting user-friendly index and graph package provides analyses, data, insights and forecasts for the major trailer markets in Asia, Europe, North America, and South America and other markets, including Australia and South Africa. The forecasts in this year’s report have been extended into 2021.
“We are now in our fourth year of endeavoring to quantify the global trailer market,” said Kenny Vieth, president and senior analyst of ACT Research. “This year’s updated report includes expanded coverage of the European market, with Western European forecasts separated by major markets (Germany, UK, France, Spain, Portugal, and the Netherlands) and Eastern European forecasts separated by major markets (Poland Turkey, Russia, Slovakia, and Romania).”
A subscription includes an Excel data file with more than 25 individual sheets, an easy-to-use index sheet with linked tabs to every individual data page, and a tab with more than 30 ready-to-use comparable graphs.
For more information including pricing, table of contents, and a listing of excel tables, visit http://www.actresearch.net/global-trailer-market-analysis-forecast-2009-2021/.
ACT is a publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, and the China CV market.
For more information on ACT, visit http://www.actresearch.net.