In the latest release of the ACT North American Commercial Vehicle Outlook, ACT Research Co. increased its 2010 forecast for heavy-duty (Class 8) vehicle production by 4,500 units, boosting year-over-year growth to 23 percent.
The forecast for 2011 was modestly increased, with year-over-year growth projected to be 62 percent. The forecast for medium-duty vehicle (Classes 5-7) production was reduced as housing and construction sectors struggle to regain footing.
A strengthening North American economy and improving supply/demand balance of freight-hauling truck capacity are primary factors in a continuing rebound of orders and production of commercial vehicles.
“The increase in our heavy-duty forecast is based on widespread strength in orders over the past few months,” said Kenny Vieth, senior analyst and partner with ACT Research. “We are seeing improving orders across OEMs and geographies, confirming that the broader market has started the long process of replacing the fleet.”