Truck Sales Down In 2001 — NTEA
The trucking industry has I slowed significantly in 2000 and the slowdown will continue in 2001, according to forecasters at the National Truck Equipment Association’s (NTEA) Economic Outlook Conference.
While medium-duty truck production surged during part of 2000, Eli Lustgarten, managing director for H. C. Wainwright and Co., forecasted North American medium-duty truck production will decline 6 percent by year-end and an additional 9 percent in 2001. Heavy-duty truck production as well as other industry segments are also on the decline.
“The decline in heavy-duty truck production in combination with other leading economic indicators provides strong evidence of an economic downturn for segments of the commercial truck and transportation equipment industry,” said Stephen Latin-Kasper, NTEA director of market data and research.
David A. Wyss, Ph.D., chief economist for Standard and Poor’s DRI, said North America’s share of global truck output is expected to decline from 38 percent in 2000 to 30 percent.
The National Truck Equipment Association (NTEA) was established in 1964 and currently represents over 1600 companies that manufacture, distribute, install, sell and repair commercial trucks, truck bodies, truck equipment, trailers and accessories.