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Sunday, July 21, 2024

2012 new truck demand looks strong and steady

The forecast for medium- and heavy-duty truck production next year is holding steady so far, according to trucking market analysts at ACT Research.

ACT says it continues to project about 295,000 North American Class 8 trucks produced for 2012.

“Recently released U.S. economic data have had a better tone as evidenced by firmer October labor market data, a positive and rising third quarter real GDP, and a rising U.S. stock market,” said Sam Kahan, ACT’s chief economist.”These improved figures have reinforced our contention that the onset of a U.S. recession is not imminent.”

Most of the demand will continue to be to replace aging trucks, rather than for new capacity, he said.

As well, the price of used trucks has increased, making it more attractive to trade in and purchase new equipment.