ACT Research Says May CV Data Showing COVID Pandemic’s Mark

Tepid order activity in May for the commercial vehicle market follows in line with the slow reopening of the U.S. economy, says ACT Research.

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According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, the economy continues to re-open with some very big numbers being reported on easy comparisons, after falling sharply the past few months. Additionally, the report noted that ACT Research has created an easily accessible webpage to track noteworthy high 

“Hand-in-hand with the re-opening, states across the country continue to reach new highs for COVID-19 cases. While we do not anticipate shutdowns á la April, the re-acceleration in cases around the country is a reminder that the economic recovery currently underway is thin and heavily subsidized,” says Kenny Vieth, ACT Research’s President and Senior Analyst. He adds, “The pandemic’s stamp can be seen across May’s commercial vehicle statistics, with tepid Class 8 order activity, soft production, and falling sales that illustrate weakness from the beginning to the end of the demand spectrum.”

Regarding the medium-duty markets, he comments, “We often note that the medium-duty market is roughly half as volatile as the Class 8 tractor market, and that statement holds-up under the weight of COVID-19. Relative to heavy-duty, the Classes 5-7 demand picture is comparatively restrained, with May’s orders rebounding from April’s worst-in-a-decade volumes.”

Vieth adds, “Despite the sequential upticks, sales and build for the commercial vehicle sectors in May remained woefully behind those recorded a year ago.”