Class 8 backlog ‘remains jam-packed’ as freight growth stagnates: ACT
April’s Class 8 metrics aligned with expectations, with the lone exception of cancellations, which continued to trend lower, according to ACT Research.
“Data continue to tell the same stories we have been reporting. First and foremost, the story remains one of current demand strength: The backlog remains jam-packed and robust retail sales highlight good follow-through on all those orders that were booked in the last half of 2018,” said Kenny Vieth, ACT Research’s president and senior analyst. “The second story starts with those softening freight metrics, pivots on robust build and sales, and ends with the reality of a record new Class 8 inventory. In short, freight growth is stagnating, even as Class 8 population growth is accelerating.”
Regarding the medium duty markets, Vieth said its metrics “remained in-line with expectations again in April, as most metrics were close to their prevailing trends.”
