COLUMBUS, Ind. – According to ACT Research’s latest State of the Industry: NA (North American) Classes 5-8 Report, while the economic set-up remains favorable, considerable friction and uncertainty have been added, with many more loose ends in the economic story than there were a month ago.
ACT’s State of the Industry: NA Classes 5-8 report provides a monthly look at the current production, sales, and general state of the on-road heavy and medium duty commercial vehicle markets in North America.
It differentiates market indicators by Class 5, Classes 6-7 chassis and Class 8 trucks and tractors, detailing measures such as backlog, build, inventory, new orders, cancellations, net orders and retail sales. Additionally, Class 5 and Classes 6-7 are segmented by trucks, buses, RVs and step van configurations, while Class 8 is segmented by trucks and tractors with and without sleeper cabs.
This report includes a six-month industry build plan, backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first look at preliminary net orders is also published in conjunction with this report.
“Despite the economic uncertainty and considerable inflationary friction, North American commercial vehicle markets continue to perform at status quo levels.” according to Kenny Vieth, ACT Research’s president and senior analyst. “Persistent supply-chain constraints are still limiting the industry’s ability to raise production levels to align with demand. As a result, backlogs remain long, and order volumes remain constrained due to ‘within 12 months’ order reporting ground rules. Until build rates find traction, orders are expected to largely mirror production levels. It’s also important to remember that Russia’s invasion of Ukraine did not occur until Feb. 24. Hence, we do not believe there is any impact on February’s market statistics.”
“After high-side beats in December and January, Class 8 production moderated to in-line with expectations in February. Classes 5-7 build stayed choppy, with a rebound to trend build rates in February, after sharply lower production activity in January,” Veith said.
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