NTEA, the Association for the Work Truck Industry, released the first edition of the U.S. Commercial Vehicle Market Report–powered by Commercial Truck Trader, NTEA, and S&P Global Mobility.
This semi-annual industry report delves into the details, data, and trends around the life cycle of commercial vehicles—from chassis sales to truck registration to later stages when used vehicles re-enter the sales market.
The first U.S. Commercial Vehicle Market Report was released in conjunction with NTEA’s Executive Leadership Summit, in Baltimore, Maryland, during a session on trends within the commercial vehicle population led by representatives from Commercial Truck Trader, S&P Global Mobility ,and NTEA.
“The U.S. Commercial Vehicle Market Report provides work truck industry companies with forecasting and trend analysis they can leverage in their operational planning,” said Kevin Koester, NTEA managing director. “We’re excited to launch this collaborative report and ultimately connect with our membership to gather feedback and discuss findings, especially as the report, its data and trends evolve over time.”
“As a trusted resource for the commercial vehicle industry, we are excited to partner with NTEA and S&P Global on the U.S. Commercial Vehicle Market Report, which will provide valuable information businesses can use and put to work,” said Charles Bowles, director of OEM & strategic initiatives at Trader Interactive, parent company of Commercial Truck Trader.
“The commercial vehicle market is rapidly changing due to many factors, including the last-mile boom and emergence of electric vehicles,” said Mark Hazel, associate director, commercial vehicle reporting at S&P Global Mobility. “This collaborative report between NTEA, S&P Global Mobility, and Commercial Truck Trader will provide unparalleled insights to guide businesses through the changing commercial vehicle market.”
This first edition of the U.S. Commercial Vehicle Market Report leverages multiple complex datasets currently available to the market to provide an introductory landscape of opportunities, trends, and challenges in today’s incomplete vehicle market.
Topics covered include:
- Purchasing trends and forecasts by vehicle class
- Fleet reactions to supply shortages and resulting effects on demand
- How recent chassis shortages have impacted sales and consideration trends
- Ways the industry is preparing for new emission standards
- How electric vehicles are being used commercially.