ACT Research and FTR say commercial vehicle sales were down slightly in February but are still continuing at a healthy rate. Experts say the drop in numbers is not something to worry about, but to not expect 2012 to see the growth we saw in 2011. February is the second month in a row of negative month-over-month comparisons.
In January 2012, 22,500 units for Class-8 trucks were purchased and 12,800 medium-duty trucks were purchased. In comparison, 22,243 Class-8 trucks were purchased in February 2012; an 11% decrease.
Kenny Vieth, president and senior analyst at ACT Research said, “February net orders were incrementally below expectations, however, healthy backlogs and strong orders over the previous four months continue to support our forecasts for 2012.”
According to the Journal of Commerce, trucking is expected to outperform the GDP (gross domestic product), as the economy continues to strengthen. The JOC states, “The trucking industry will outperform the U.S. economy this year, with truck freight growing 3.9 percent, greater than overall GDP, according to FTR Associates.”
The trucking industry is growing at a healthy rate and the economic forecast is a sight for sore eyes to all in the industry.