Heavy-Duty Truck Market Enjoys Positive Momentum
The heavy-duty truck market is off to a "hot" start in 2021, "with numbers that build on 2020's strong close," according to ACT Research.
“The massive supply-demand imbalance between freight and drivers in the second half of 2020 lit commercial vehicle demand on fire, beginning in the fourth quarter of last year," says Kenny Vieth, ACT's president and senior analyst.
“As an illustration, over the past four months ending January, Class 8 backlogs doubled. That period included best- and third-best ever orders for Class 8 tractors in November and December.
“While we are confident that the conditions driving demand should remain in place, what will dictate the trajectory of build, retail sales, and our forecasts will be the industry’s ability to navigate around both traditional and nontraditional supply-chain constraints," adds Veith.