08.08.2009
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| Freight stabilizes, overcapacity remains
Freight stabilizes, overcapacity remains
Quote:
Freight levels have stopped shrinking and the recession may be coming to an end, analysts told participants in the Commercial Vehicle Truck and Trailer Outlook and Update webinar hosted by FTR Associates Aug. 7.
But the industry has approximately 300,000 heavy-duty trucks that are either parked or underutilized, said Noel Perry, a principal with Transport Fundamentals. This overcapacity situation may not improve until the economy shows considerable growth – around 3 percent – possibly not until late next year. “The bad news is, we don’t get the kind of capacity utilization numbers we need to improve rates until into 2011,” Perry said.
Freight stabilization is a reflection of the recession coming to an end, possibly even this month, analysts said. “Our expectation is that this current quarter will show growth at about 2 percent [gross domestic product],” said Bill Witte, co-director of the Center for Econometric Research, the primary engine FTR uses to drive its forecasts.
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