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World commercial vehicle sales growing in next couple years to surpass 23 million mark

Friday, March 21, 2008 - 00:00
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World commercial vehicle sales are projected to grow at a compounded annual rate of 2.3 percent over the next two years, and this production is expected to be around 21.7 million units in 2010. The US, with a share of 41.5 percent of sales for 2007, represents the largest market for commercial vehicles.

A report titled "Commercial Vehicles: A Global Strategic Business Report" published by Global Industry Analysts, Inc., covers major market dynamics, trends, issues, and competition pertaining to the market.

In terms of production, too, the U.S. dominates with an estimated share of 33.8 percent. Fastest growth, in terms of both sales and production, however, is expected to emanate from the developing economies of Asia-Pacific and Latin America.

Macro or international economic factors influencing that growth are changes in government policies, fluctuation in exchange rates, varying inflation levels and existing automobile infrastructure, amongst other variables. Micro or local economic factors also exert an influence, such as an open trade environment, the country's tax policies towards the automotive sector and availability of consumer finance.

The sheer dependence of the global CV market on the Western economies underlines the fact that an economic slowdown in the US and western European markets spells a decline in auto exports for the rest of the world. As such, major regional automobile producers in Japan, South Korea, Canada and Germany will be among the first to experience a drastic fall in export volumes and consequently, an inventory pile up. Commercial vehicle makers worldwide are realizing that it pays to cut costs, not necessarily from a competitive angle, but for the very survival in a profit-shrinking economic environment.

Major companies involved in this market include AB Volvo Group, Daimler, Chrysler, Fiat S.p.A., Ford Motor Company, General Motors Corp., Hino Motors, Ltd., Honda Motor Co., Ltd., Hyundai Motor Company, Isuzu Motors Ltd., Iveco, MAN Nutzfahrzeuge Group, Mitsubishi Motors Corp., Navistar International (International Truck and Engine Corp.), Nissan Diesel Motor Co. Ltd., Nissan Motor Co., Ltd., PACCAR Inc., Scania AB, Tata Motors Ltd., Toyota Motor Corp. and Volkswagen AG

The report enumerates recent launches, developments, mergers, acquisitions and other strategic industry activities. Analytics are provided for the period 2001 through 2015 for established and emerging markets including United States, Japan, France, Germany, United Kingdom, Italy, Spain, Russia, Australia, China, India, Argentina, Brazil and other key countries of the world.

For more details about this research report, visit www.strategyr.com/Commercial_Vehicles_Market_Report.asp.
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