Economic trends: Page 2

Rusty Rush emphasizes training, retention; sees 'little r' recession for '23
“Training is something that always evolves,” Rusty Rush says. “You think you get trained up and it’s over and it’s not. It’s a constant thing. We look at it as an investment.”
December 14, 2022
Three men. on a stage with microphones
ACT sees optimism for truck orders entering new year
“We are now more convinced that first half build rates will be sustained deeper into second half of 2023. The more hopeful view on inflation leads us to modestly raise our 2023 Class 8 build expectations,” says ACT's Kenny Vieth.
December 13, 2022
Truck plant
President signs bill to avert railroad strike
“Working together, we have spared this country a Christmas catastrophe in our grocery stores, in our workplaces, and in our communities,” Biden says.
December 2, 2022
An overhead shot of a railway yard.
Uncertainty clouds economic forecast for 2023
“Those big three of labor, supply chain and inflation are greater than any problems we see looming on the horizon, such as a recession,” says Richard Anderson, senior director of research and analysis at HDMA.
December 1, 2022
People working at a vehicle assembly line.
ACT continues to tweak 2023 equipment, economic forecasts
“Not only has the Fed telegraphed this aggressive stance, but economic data suggest the Fed has little choice. It is our view the Fed will continue on its course of tighter monetary policy,” says ACT Research President and Senior Analyst Kenny Vieth.
November 30, 2022
Trucks driving on the highway
Truck tonnage slips in October
American Trucking Associations’ (ATA) announced last week its advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 2.3 percent in October after rising 0.8 percent in September.
November 28, 2022
ATA truck tonnage chart for October 2022
Used Class 8 sales drop 19 percent in October
“Same dealer retail sales of used Class 8 trucks fell in September, shedding 19% m/m,” says Steve Tam, vice president at ACT Research. He continued, “Used truck sales typically see a moderate increase in October, relative to September."
November 23, 2022
Used Heat Map 11 23 22
Class 8 tractor dashboard falls for sixth time in seven months
"We think the dashboard readings suggest a better outcome for Class 8 than was the case in the last two downturns," says Kenny Vieth, ACT president and senior analyst. "While we suspect more negative readings are inbound, they are not here yet."
November 23, 2022
ACT Research tractor dashboard
Reports: U.S. October trailer orders up as 2023 order boards open
“With more 2023 order boards opening, October net orders continued their upward trend,” says Jennifer McNealy, director, CV Market Research & Publications at ACT Research.
November 18, 2022
A fever chart displaying October 2022 preliminary net trailer orders of 46,750 units, an 82% increase from September.
Third quarter MarketPulse survey shows softness entering industry
Business has slowed in trucking’s dealer and aftermarket channels, reported responders to Trucks, Parts, Service’s most recent MarketPulse quarterly survey.
November 18, 2022
TPS industry survey image
Used market correction continues as pricing gulf expands
The pricing dichotomy between late-model, low-mileage trucks and all other equipment expanded in October as the used truck market continues its course correction to historical norms, J.D. Power reports in its November Commercial Truck Guidelines report.
November 17, 2022
Trucks driving over hill and down highway
Used market volume contraction continues
Retail sales volumes continued their downswing in October, ACT Research announced Tuesday.
November 15, 2022
ACT Research used truck chart
ACT Research shows bullishness on final months of 2022
ACT Research revised its commercial vehicle forecast in a positive manner last week, the company announced in its most recent North American Commercial Vehicle Outlook report.
November 14, 2022
Production line
Used truck market contraction likely in 2023
The next few months could be a tough stretch for the used truck market, ACT Research Vice President Steve Tam shared with the industry Friday at the Used Truck Association (UTA) Convention.
November 11, 2022
ACT Research's Steve Tam
Politicians can't stop a potential recession but consumers will impact it
With the votes of Tuesday’s election still being tallied, it remains unclear which party will control Congress in January. But Dr. Chris Kuehl says no matter who is in charge one thing is clear — their campaign promises to fight inflation will go nowhere.
November 10, 2022
Dr. Chris Kuehl
ATD reports Class 8 sales up 9.5 percent year to date
The American Truck Dealers (ATD) announced in its most recent Truck Beat report Class 8 truck sales are up nearly 10 percent through the first three quarters of 2022 compared to the same period last year.
November 3, 2022
Volvo Truck in western desert
Class 8 order wave continues into October
"OEMs are now filling build slots well into Q2 and the early part of Q3 2023," says Charles Roth, FTR commercial vehicle analyst. "Component shortages continue to be a week-to-week issue; however, the overall sentiment from manufacturers is optimistic."
November 3, 2022
October 2022 Class 8 truck orders
Diesel fuel supply 'vulnerably stable,' widespread shortage unlikely
The Energy Information Administration announced last week that distillate levels are at their lowest point since 2008, but that was coming out of peak demand, and we're currently headed into increased demand.
November 1, 2022
trucks at a fuel island
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Used trucks
Used truck depreciation intensified in December
With new trucks finally hitting highways en masse and dealers eager to get out from under excessive inventory by year end, the used truck market saw a large dip in price last month, J.D. Power reported in its January 2023 Commercial Truck Guidelines.
Mergers and acquisitions roundup
Mergers & Acquisitions
Dealers and aftermarket groups busy in new year
Cummins-Meritor better together slide
Components
Cummins offers update on Meritor integration
GenNext logo
Workforce
GenNext has opened nomination period for its 4 Under 40 Awards
Weldon Parts wins 2022 TPS Distributor of the Year
Distributor of the Year
Weldon Parts earns 2022 Distributor of the Year Award
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