Freight volumes are likely to hit additional trade-related air pockets in the coming quarters, after a reprieve in Q3. Tariffs are also raising equipment prices, and heavy truck makers are reducing production. In 2H’25, NA Class 8 production is set to fall more than 25% from 1H’25, as discussed in the latest release of the Freight Forecast: Rate and Volume OUTLOOK report.

“As the economy is likely to absorb the effects of tariffs over the next several months, our freight demand outlook remains cautious,” according to Tim Denoyer, ACT Research’s Vice President and Senior Analyst. “But the silver lining of lower vehicle production and lost manufacturing jobs is that tighter capacity will likely drive freight back to the for-hire market in the future.”

“As goods prices rise, lower unit demand may loosen market equilibrium for some time before the effects start to support freight rates, and we see a soft holiday shipping season,” Denoyer concluded.

The monthly 61-page ACT Freight Forecast report provides analysis and forecasts for a broad range of U.S. freight measures, including the Cass Freight Index, Cass Truckload Linehaul Index, and DAT spot and contract rates by trailer type for the U.S. and Canada. The service provides monthly, quarterly, and annual predictions for the TL, LTL, and intermodal markets over a two- to three-year time horizon, including capacity, volumes, and rates. The Freight Forecast provides unmatched detail on the freight rate outlook, helping companies across the supply chain plan with greater visibility and less uncertainty.