New report is a collaboration with Commercial Truck Trader and S&P Global Mobility
BALTIMORE, Md. (Oct. 18, 2022) — 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 today 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
The fall 2022 U.S. Commercial Vehicle Market Report is available free to the industry. For additional details and report access, visit ntea.com/cvmarketreport, or contact NTEA at [email protected] or 800-441-6832.
Established in 1964, NTEA – The Association for the Work Truck Industry, a 501(c)(6) organization, represents more than 2,000 companies that manufacture, distribute, install, sell and repair commercial trucks, truck bodies, truck equipment, trailers and accessories. Buyers of work trucks and the major commercial truck chassis manufacturers also belong to NTEA. The Association provides in-depth technical information, education, and member programs and services, and produces Work Truck Week ® , Green Truck Summit, Commercial Vehicle Upfitting Summit, and Executive Leadership Summit. The Association maintains its administrative headquarters in suburban Detroit and government relations offices in Washington, DC, and Ottawa, Ontario, Canada.
ABOUT COMMERCIAL TRUCK TRADER
Commercial Truck Trader, a division of Trader Interactive and part of the well-known “Trader” family of associated brands, is the industry-leading advertising marketplace for sellers of light, medium, and heavy duty trucks and trailers, with more than 1 million monthly unique visitors. The Commercial Truck Trader service also provides a range of innovative tools designed to help manufacturers and dealers generate customer connections, drive sales, and maximize profits. For more information, visit TruckMediaKit.com.
ABOUT S&P GLOBAL MOBILITY
At S&P Global Mobility (formerly IHS Markit | Automotive), we provide invaluable insights derived from unmatched automotive data, enabling our customers to anticipate change and make decisions with conviction. Our expertise helps them to optimize their businesses, reach the right consumers, and shape the future of mobility. We open the door to automotive innovation, revealing the buying patterns of today and helping customers plan for the emerging technologies of tomorrow. S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit spglobal.com/mobility.