FOR IMMEDIATE RELEASE
Media Contact:
Summer Marrs
Director of Communications & Public Relations
248-479-8913
summer@ntea.com
FARMINGTON HILLS, Mich. (March 2019) — NTEA recently published its seventh annual Fleet Purchasing Outlook to showcase purchasing trends for the commercial vehicle community. The insights provided by fleet professionals give the entire work truck industry perspective on anticipated purchasing intent and areas of greatest interest to fleet managers.
“Purchasing activity for 2019 is expected to remain strong,” said Steve Carey, NTEA president & CEO. “Our 2019 Fleet Purchasing Outlook provides insights, highlighting the fleet community’s interest in vehicle technology and productivity.”
NTEA gathers feedback from a wide variety of fleet professionals in mid- to high-level management, with authority to make decisions on truck acquisition and vehicle specification. A broad range of fleet sizes, vehicle weight classes and vocational truck applications is represented as participants span the U.S. and Canada. Based on current survey results and data from previous studies, this report offers year-to-year comparisons for benchmarking purposes.
Report findings showcase
- Average truck age and replacement cycles
- Macro-level buying tendencies
- Predicted change in fleet size
- Main factors driving purchase behavior
- Interest in advanced truck technologies and alternative fuels
- Approach to safety and automation
- Importance of financial purchasing incentives
The publication acknowledges current economic dynamics like tariffs, the tight labor market, extended lead-times and new regulations have created complications. Tariffs will continue to make trucks and truck equipment more expensive — largely due to higher aluminum and steel prices. Retaliatory action by other countries has led to parts shortages, and such issues will likely persist in the year ahead. Even with new plant builds in recent years, capacity utilization remains high given the workforce shortage. When considering vehicle procurement, many fleets are faced with substantial lead-times. Despite the ever-present challenges, data shows fleets continue to adapt and make gains.
Respondent feedback
- 7 percent expect to replenish 25–50 percent of vehicles in their fleets as compared to 4 percent in 2018 (response from fleets planning to acquire trucks in 2019)
- 25 percent report average truck age is declining (up from 21 percent in 2017 and 23 percent in 2018)
- 40 percent anticipate fleet size expansion in 2019 (construction sector slated to increase most aggressively)
- 82 percent do not expect a vehicle platform shift — down 10 percentage points relative to 2017 (response from fleets planning to acquire trucks this year)
The 2019 Fleet Purchasing Outlook is free to NTEA members in print and digital formats. Nonmembers can purchase for $199. For additional detail and report access, visit ntea.com/fpo, or contact NTEA’s team (info@ntea.com or 800-441-6832).
About NTEA
Established in 1964, NTEA – The Association for the Work Truck Industry represents more than 2,050 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 the Association. NTEA provides in-depth technical information, education, and member programs and services, and produces The Work Truck Show®. The Association maintains its administrative headquarters in suburban Detroit and government relations offices in Washington, DC, and Ottawa, Ontario.
###