Aging U.S. Truck Fleet Could Lead to Production Boost Next Year
Truck production in North America could climb more than 50% next year due to an aging U.S. truck fleet, Bloomberg reported.
Fleet owners could hike production as much as much as 56% as they refresh the oldest fleet in 31 years, which could help boost both truck makers and component suppliers, Bloomberg said.
Class 8 output may reach as many as 235,000 units next year from an estimated 151,000 this year, Kenneth Vieth, a partner at market forecaster ACT Research Co., told Bloomberg.
Heavy-duty truck orders jumped 40% in September compared with the same month last year, ACT said last month. (Click here for previous story.)
American Trucking Associations’ members “are saying they desperately need to replace trucks,” ATA Chief Economist Bob Costello told Bloomberg.
The age of U.S. trucks now averages 6.7 years — about 11 months older than the historical average and the oldest in ACT data going back to 1979, Bloomberg reported.
Besides truck makers, the boost could product suppliers such as Eaton Corp., ArvinMeritor Inc. and others, Bloomberg said.
