Class 8 Truck Market Leveling Out

Class 8 truck market softens, but not in a downward spiral, experts said.

Class 8 truck market softens, but not in a downward spiral, experts said.
Class 8 truck market softens, but not in a downward spiral, experts said.
©Carolyn Franks – stock.adobe.com

An ACT Research report out today asserts that the U.S. Class 8 truck market is about the same as it's been for the past three months. Several market indicators are trending downward, but the market is not necessarily in a downward spiral, experts said. 

According to the ACT Research Transportation Digest, the top line on the Class 8 Tractor Dashboard was unchanged in May, the third month of moderately downbeat readings.

“Our interpretation of the recent Tractor Dashboard reading is a gradual erosion of Class 8 market demand into the second half of 2022, but no ‘spiral down’ and certainly not a ‘cliff event’,” said Kenny Vieth, ACT’s president and senior analyst.

He continued, “With a recession in 2023 now our base case, we think the dashboard reading, while negative, still suggests a better outcome for Class 8 than was the case in our last two recessions [COVID 2020 and the 2008-09 Great Recession], as supply constraints have kept the industry from overbuilding in the leadup to the downturn.”

The report paints a comprehensive picture of trends impacting transportation and commercial vehicle markets. This monthly report is designed as a quick look at transportation insights for use by fleet and trucking executives, reviewing top-level considerations such as for-hire indices, freight, heavy and medium duty segments, the U.S. trailer market, used truck sales information, and an overview of the US macro economy.

“Disaggregating the dashboard, we see the most pronounced adverse trends in the freight segment, with four of five indicators in negative territory," Vieth said. "The readings from the economic and ACT State-of-the-Industry data sets are more of a mixed bag of positives, neutrals and negatives.”


Latest