The supply of Class 8 trucks continues to rise faster than demand for trucks according to the most recent ACT For-Hire Trucking Index from ACT Research Co. (ACT).
“The capacity index [supply] rose faster than the freight index [demand] for the third consecutive month and the 10th time in the past 12 months in November,” said Kenny Vieth, president and senior analyst of the Indiana-based trucking forecast company.
“We have to go back to the second half of 2012 to find a comparable period of imbalance — a period marked by anemic economic growth and strong U.S. Class 8 retail sales.”
Vieth said that with strong Class 8 sales expected into the end of the year, and no apparent catalyst to trigger stronger economic growth, capacity additions are expected to remain ahead of freight creation — at least into the end of 2015.
ACT is the worldwide leading publisher of new and used commercial vehicle industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China commercial vehicle market.