Truck build rates get 10k unit bump
Cleveland Research Company, an independent equity research firm headquartered in Cleveland, Ohio, on Tuesday raised its 2014 North American heavy truck build forecast by 10,000 units on stronger demand.
Year-to-date, sales of Class 8 trucks are up 9 percent from 2013, according to the most recent data from ACT Research.
Sandeep Kar, global director of research, automotive and transportation for global consulting firm Frost & Sullivan, says 2014 is shaping up to be a big year for truck sales.
“This is the year when North American Class 8 truck sales are projected to reach the highest levels within the past six to seven years,” he says. “Frost & Sullivan also forecasts that sales of Class 8 trucks will be approximately 258,000 units, while medium-duty truck sales will exceed 140,000 units.”
According to IHS Automotive, new commercial vehicle registrations for GVW 3-8 vehicles for the first quarter of the 2014 calendar year were 143,245 units and represented an increase of 8.3 percent over the 132,272 units registered during the first quarter of the 2013 calendar year. New Class 8 registrations for the first quarter of the 2014 calendar year were up 9.2 percent from the same quarter in the 2013 calendar year.
“On the surface this may seem a year where the global commercial vehicle is trying to get back its groove,” Kar says, “but with a deeper look the structural modifications that are already in motion will make 2014 a year of great relevance in development and introduction of future focused trucks and associated powertrain, chassis, safety, telematics, and regulation compliance technologies. 2014 is the start of trucking future.”