This article was published in the November 2022 edition of NTEA News.
NTEA held its 2022 Executive Leadership Summit in October in Baltimore, Maryland. This annual event offered commercial vehicle industry decision-makers an opportunity to hear from economists, industry leaders and government agencies about trends, forecasts and insights designed to further industry knowledge, growth and profitability.
North American Commercial Vehicle Business Update and Macroeconomic Overview
Presented by: Steve Latin-Kasper, Senior Director of Market Data and Research, NTEA
In this session, NTEA’s economist provided an in-depth analysis of the work truck industry, including market size and segmentation by cab type and weight class, along with a discussion of opportunities for sales growth to primary application markets such as construction, energy, telecom, state/local government, truck/trailer rental, and cartage and delivery. A forecast of U.S. economic growth was also provided along with a discussion of expectations regarding inflation, interest rates and employment in terms of potential challenges and/or opportunities for 2023.
Assessing the Impact of Supply Chain Issues Affecting U.S. Manufacturing
Presented by: Ryan Mulholland, Senior Advisor for Global Supply Chain Competitiveness; U.S. Department of Commerce
This session focused on insights into the federal government’s actions to address supply chain issues affecting U.S. manufacturing, including current challenges and potential solutions for bringing greater stability to supply chains in the future.
Navigating Disruption — A Perspective from Industry Manufacturing Leaders
Moderated by: John Davis, Host/Creator/Managing Director, MotorWeek
Presented by: Ed Peper, U.S. Vice President, General Motors Fleet, General Motors; and Mark Stasell, Vice President, Vocational Truck Business, Navistar Inc.
The automotive industry has been no stranger to facing disruptions — including traversing recent unprecedented challenges spurred by the global pandemic, such as supply chain issues, connecting with customers, and changes in how they do their work. In this session, executives from leading commercial vehicle manufacturing companies shared their perspectives on current industry market challenges, including insights into how they envisioned the industry adapting to ever-changing market needs and dynamics.
Trends Impacting the North American Commercial Vehicle Population
Moderated by: Kevin Koester, Managing Director, NTEA
Presented by: Charles Bowles, Director of OEM and Strategic Initiatives, Trader Interactive; Andrej Divis, Director, Automotive, Global Heavy Truck Research, S&P Global Mobility; and Mark Hazel, Associate Director – Commercial Vehicle Reporting, S&P Global Mobility
Representatives from industry-leading data organizations joined NTEA to examine current and anticipated trends within the registered commercial vehicle population and to introduce the first edition of the semi-annual U.S. Commercial Vehicle Market Report – Powered by Commercial Truck Trader, NTEA and S&P Global Mobility, which covers details, data and trends around the lifecycle of commercial vehicles — from chassis sales to truck registration to later stages when used vehicles re-enter the sales market. Participants gained insight into how data and trends can be used to adjust their market and production plans.
To learn more about some of the insights and data points shared, access the recently released U.S. Commercial Vehicle Market Report at ntea.com/cvmarketreport.
Creating an Amazing Customer Experience in Challenging Times
Presented by: Shep Hyken, Chief Amazement Officer, Shepard Productions
Customer experience has become more important than ever. This session provided insights and strategies to help companies create a better experience, such as:
- The bar for customer experience is higher than ever. Even though you compete with your competition, customers compare you to the best service they have ever received from anyone.
- Customer amazement doesn’t have to be an over-the-top experience. It comes from consistent and predictable “above average” experiences.
- Manage the moment: Every customer interaction can form an impression.
- Be a partner, not a vendor: Partnership is a vendor relationship on steroids. Partners sit down and find mutually agreeable solutions for problems.
- Difficult conversations: The key to problem solving is communication. Be proactive with conversations. When you give customers information, they gain a sense of confidence. While they may not control a situation, they at least have the information.
Learn more and view photos from the 2022 event at ntea.com/executivesummit.