NTEA releases fall 2023 U.S. Commercial Vehicle Market Report

This article was published in the November 2023 edition of NTEA News.

NTEA released the third 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, which was launched in 2022, delves into the details, data and trends around the commercial vehicle life cycle — from chassis sales to truck registration to later stages when used vehicles re-enter the sales market.

“Navigating market and business challenges and opportunities is something our industry organizations do day in and day out,” said Kevin Koester, NTEA managing director. “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.”

“Understanding the industry is crucial. With the insights shared in the fall 2023 U.S. Commercial Vehicle Market Report, Commercial Truck Trader’s data will arm industry professionals with the right information to make more strategic and informed business decisions,” added Charles Bowles, director of OEM & strategic initiatives at Trader Interactive, parent company of Commercial Truck Trader. “We are thrilled to once again discuss the insights from the report alongside 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,” notes Andrej Divis, executive director, 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.”

This third edition of the U.S. Commercial Vehicle Market Report leverages multiple complex datasets to provide a landscape of opportunities, trends and challenges in today’s work truck market.

Topics covered include:

  • How recent chassis shortages have impacted inventory levels
  • Purchasing trends and forecasts by vehicle class
  • Fleet reactions to supply shortages and resulting effects on demand
  • Proliferation of electric commercial vehicles
  • Inventory age trends
The fall 2023 U.S. Commercial Vehicle Market Report is available free to the industry. Visit ntea.com/cvmarketreport, or contact NTEA at info@ntea.com or 800-441-6832, for additional details and report access.