Work Truck Spending To Rise 10% After Several Years Of Decline
"The last two-and-a-half years were terrible but now, the commercial truck industry is starting to trend upward," said Stephen Latin-Kasper, NTEA market data and research director, at the association's work truck show, held March 3-5 in Atlanta.
This is good news for truck chassis and implement manufacturers, which have been forced to cut back operations over the past three years. In early 2000, truck fleets reached capacity, the economy shifted and unit shipments began slipping from a peak of $100 billion. By the close of 2001, the total truck market had bottomed out at $85 billion, where it remains today.