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

Media Contact:
Summer Marrs
Senior Director of Communications & Public Relations

Semi-annual market report is a collaboration with Commercial Truck Trader and S&P Global Mobility

INDIANAPOLIS, Ind. (March 8, 2023) — NTEA – The Association for the Work Truck Industry released the second 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 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.

“We’re excited to release the spring 2023 U.S. Commercial Vehicle Market Report to the industry,” said Kevin Koester, NTEA managing director. “We continue to mine new data with the goal of providing valuable insights and helping the industry through historically challenging times. We look forward to discussing our findings in our session at Work Truck Week and receiving feedback to continue to improve this valuable resource.”

The second report was released today in conjunction with Work Truck Week® 2023 in Indianapolis, Indiana, during a session on trends impacting the North American commercial vehicle population led by representatives from Commercial Truck Trader, S&P Global Mobility and NTEA.

“Knowledge is power, and the insights shared in the 2023 U.S. Commercial Vehicle Market Report will arm dealers with the right data to make more strategic and informed decisions in their business,” 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 at Work Truck Week alongside NTEA and S&P Global Mobility.”  

“We are proud to continue collaborating with NTEA and Commercial Truck Trader to deliver this great resource to the work truck market,” said Mark Hazel, associate director, commercial vehicle reporting at S&P Global Mobility. “As the industry works through various supply shortages and the rise of electric vehicles, this report will continue to provide valuable information to help businesses navigate these times.”

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

Topics covered include:

  • Purchasing trends and forecasts by vehicle class
  • Fleet reactions to supply shortages and resulting effects on demand
  • How recent chassis shortages have impacted inventory levels
  • Proliferation of electric commercial vehicles
  • Average vehicle age shifts

Learn more
The spring 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.

Established in 1964, NTEA – The Association for the Work Truck Industry, a 501(c)(6) organization, represents more than 2,000 companies that manufacture, distribute, install, sell and repair commercial vehicles, truck bodies, truck equipment, trailers and accessories. Buyers of work trucks and the major commercial truck chassis manufacturers also belong to NTEA. The Association provides in-depth technical information, education, and member programs and services, and produces Work Truck Week, Green Truck Summit, Commercial Vehicle Upfitting Summit and Executive Leadership Summit. The Association maintains its administrative headquarters in suburban Detroit and government relations offices in Washington, DC, and Ottawa, Ontario, Canada. Learn more at ntea.com. 

Commercial Truck Trader, a division of Trader Interactive and part of the well-known “Trader” family of associated brands, is the industry-leading advertising marketplace for sellers of light, medium, and heavy duty trucks and trailers, with more than 1 million monthly unique visitors. The Commercial Truck Trader service also provides a range of innovative tools designed to help manufacturers and dealers generate customer connections, drive sales, and maximize profits. For more information, visit TruckMediaKit.com.

At S&P Global Mobility (formerly IHS Markit | Automotive), we provide invaluable insights derived from unmatched automotive data, enabling our customers to anticipate change and make decisions with conviction. Our expertise helps them to optimize their businesses, reach the right consumers, and shape the future of mobility. We open the door to automotive innovation, revealing the buying patterns of today and helping customers plan for the emerging technologies of tomorrow.

S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world’s foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world’s leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit spglobal.com/mobility.