What is a commercial vehicle?
A commercial vehicle is a type of vehicle used for moving goods, freight or paying passengers. A bus, truck or tractor, van or RV are all types of commercial vehicles.
What are different types of commercial vehicles?
Commercial vehicles are divided into 8 classes based upon the gross vehicle weight (GVW). The table below is a break down of the class number and weight range per class. Classes are also often summarized into categories of Light Duty, Light Medium, Medium, and Heavy Duty trucks. These categories define a subset of industry specific classifications of trucks.
LIGHT DUTY: GVW classes 3-4. Includes, trucks, buses, and recreational vehicles.
LIGHT MEDIUM: GVW class 5 – some are light, some are medium. Includes trucks, shuttle buses, and RVs
MEDIUM DUTY (MD): GVW classes 6-7. All fuel types and applications including class 6-7 school buses.
HEAVY DUTY or CLASS 8 VEHICLES: defined as a straight truck or tractor over 33,001 lbs
MIDRANGE: Classes 3 – 7 vehicles. Refers to typical operation range of vehicles, which is primarily of a local and regional nature
Understanding the current commercial vehicle market is pertinent for so many businesses. For sales projections and budgeting and many more reasons, understanding the current state of the industry is why ACT Research developed it’s State of the Industry series, particularly the N.A. Classes 5-8 report. The foundation of this report is the monthly data provided to ACT Research by the OEMs. This direct access to the manufacturers is critical to the report’s success and insights into the current market. ACT releases both preliminary and finalized numbers based on the OEMs data as well as a complete report on the state of the industry.
One of the most important aspects of this report is the accompanying database. Historical data is available in Excel documents dating from 1996 to the present. With the monthly data provided by the OEMs, this report offers a rich data history that aids in model building, market intelligence for various companies. This report is a great compliment to ACT’S N.A. CV Outlook report as it gives the monthly, tactical data to support the Outlook.