NTEA, the Work Truck Association, released the third edition of the U.S. Commercial Vehicle Market Report on Wednesday.
The semiannual report looks into details, data and trends around the commercial vehicle life cycle.
"Navigating market and business challenges and opportunities is something our industry organizations do day in and day out. As an association, we value the opportunity to serve these companies by sharing data and insights in the U.S. Commercial Vehicle Market Report they can use -- and put to work -- in their strategic operational planning," says Kevin Koester, NTEA managing director.
Some of the topics covered include how recent chassis shortages have impacted inventory levels, purchasing trends and forecasts, fleet reactions to supply shortages, the proliferation of electric commercial vehicles, and inventory age trends.
"Understanding the industry is crucial," says Charles Bowes, director of OEM and strategic initiatives at Trader Interactive, the parent company of Commercial Truck Trader. The report was done in partnership with Commercial Truck Trader, NTEA and S&P Global Mobility.
"As we move into the back half of 2023, some rebalancing in the U.S. truck market is evident," says Andrej Divis, executive director of global heavy truck research at S&P Global Mobility. "Two quick examples are shifts in the mix of GVW ratings compared to a year ago, and in the sizes of the fleets driving the market. In the year to date, we have really seen large fleets return to the market in a big way."
The fall 2023 U.S. Commercial Vehicle Market Report is free.