Q4 2018 Truck Production Climbs 2.6%
ST. PAUL, MN — The Power Systems Research Truck Production Index (PSR-TPI) increased from 115 to 118, or 2.6%, for the three-month period ended Dec. 31, 2018, from Q3 2018.
The year-over-year (Q4 2017 to Q4 2018) gain for the PSR-TPI was 3.5%, climbing 4 pts from 114 to 118.
The PSR-TPI measures truck production globally and across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets.
This data comes from CV Link™, the proprietary database maintained by Power Systems Research.
Except for North America, most of the other key regions are beginning to see an economic slowdown. Regarding the commercial truck market, a slowing global economy along with generally strong truck sales during the past few years is placing downward pressure on commercial vehicle adoption rates.
While the economic conditions in the United States is currently strong, the economy is expected to moderate later in 2019 and into 2020. The forecasted economic slowdown in the United States is expected to contribute to a global economic slowdown over the next few years.
In North America, the medium and heavy commercial truck segment is expected to remain strong through much of 2019. Production levels for class 8 trucks continue to be strong driven by record order levels that are expected to continue well into 2019.
Order boards are basically filled through the first half of the year. The strong economy is driving the need to replace or expand the fleets. While not as strong as the heavy truck segment, the medium truck segment is having another good year driven in part, by strong consumer and vocational demand. PSR