US company ACT Research has shifted its long term forecast for the North American commercial vehicle industry. The cycle peak in 2013 has been adjusted downward, with stronger demand now stretching through 2014, according to the March issue of the ACT North American Commercial Vehicle Outlook.
“We believe that the economy should still be growing and generating freight in 2014″, says Kenny Vieth, ACT’s President & Senior Analyst. “There is a wide gap between new and used truck prices in a credit constrained market. This suggests that the cyclical peak we would expect to see in 2013 is likely to be muted. Assuming the economy continues to expand, the commercial vehicle cycle is likely to stretch longer than what we would typically expect.”