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  • PowerTALK™, July 2025

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    The July 2025 PowerTALK News has reports on PSR’s Q2 2025 Truck Production Index, india’s strengthening used car market, South Korea’s ship building success, Mitsubishi’s plans to electrify its Forklift products, and Chinese machinery market share gains in Brazil

    IN THIS ISSUE

    ALTERNATIVE POWER REPORT

    • Repsol Cancels 200MW Green Hydrogen Project
    • Ethiopia Updates ICE Vehicle Import Ban
    • Rare Earth Metal that Increases Battery Energy Density Identified
    • Maersk Institute Was Right About Ship Batteries But Wrong on Price

    DATAPOINT: 2025 U.S. Crawler Production
    TRUCK PRODUCTION REPORT: Q2 2025 Truck Production Is Declining
    EUROPE REPORT:     Marine Exhibition 2025 Features Collaboration and Innovation
    SOUTH AMERICA/BRAZIL REPORT:

    • Chinese Machinery Gains Market Share in Brazil
    • Brazil Will Be Largest Mercedes Truck Market in 2025

    JAPAN REPORT: Mitsubishi Logisnext To Electrify 90% of Its Forklifts
    SOUTH KOREA REPORT: Major Shipbuilder Secures U.S. Military Ship Orders
    CHINA: Heavy Duty Truck Group Signs Pact With Toyota
    INDIA: Used Car Market Shifts Toward Sustainable Profitability

  • US-EU Tariff Talks Reach Tentative Agreement

    Emiliano Marzoli
    Emiliano Marzoli

    The United States and the European Union have reached a tentative trade agreement to avert a full-blown trade war as an Aug. 1, 2025, deadline for new US tariffs approaches. US President Donald Trump has indicated a new baseline tariff rate of 15% for most countries, pushing for reciprocal agreements.

    This follows a similar deal with Japan, which saw a reduction from a threatened 25% to 15%. While discussions with the EU are ongoing, with both sides expressing optimism for a negotiated outcome, the EU has approved a retaliatory tariff package of up to 30% on €93 billion worth of US goods, to be activated if no agreement is reached. EU countries overwhelmingly supported these countermeasures, which would impact a wide range of US products from soybeans to aircraft.

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  • Europe Agricultural Machinery Business Sees Dip

    The European agricultural machinery industry’s business climate index slightly dropped for the second consecutive month, reaching 0 points in July from +4. This decline primarily affected arable equipment, transportation, and components, unlike previous months when harvesting equipment and tractors saw deterioration.

    Market confidence remains low in France, particularly for tractors, arable, and harvesting equipment, with Germany also performing poorly in these segments. Conversely, Spain, Poland, and the UK show strong confidence, leading the European market.

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  • Maersk Institute Was Right About Ship Batteries

    In September 2024 the Maersk McKinney Møller Center produced a pre-feasibility study on battery-powered vessels. The report identified battery-hybrid propulsion as an essential part of shipping’s decarbonization toolkit. It demonstrates a clear understanding that batteries offer significant efficiency gains over internal combustion and that partial electrification can sharply reduce greenhouse gas emissions and local air pollution.

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  • 2025 Heavy Truck Production Expected To Decline

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    In 2025, Medium and heavy commercial vehicle production in South America, Greater China, South Asia and Japan/Korea is expected to increase while European and North American production is expected to decline somewhat significantly this year over 2024.

    Global Index. Globally, medium and heavy commercial vehicle production is expected to decline by 1.9% this year over 2024.  A moderate softening of the global economy along with negative impacts from increased tariffs has placed pressure on vehicle demand this year.

    North America. The commercial truck market in North America remains in a “wait and see” mode with regard to truck sales this year.  Uncertainty about the economy and the impact of the trade tariffs moving forward is causing hesitancy among the various fleets.  Many fleet owners also believe the EPA will modify or outright cancel the phase 3 GHG emission regulations thus significantly reducing the cost of the MY 2027 vehicles and effectively eliminating any significant 2026 truck pre-buy.  At the time of this writing, PSR believes there will be no significant truck pre-buy through the rest of this year and a significantly reduced pre-buy if any, in 2026.  Medium and heavy truck production is expected to decline by 13% this year compared with 2024.  PSR

    Jim Downey is vice president – global data products at Power Systems Research
    Chris Fisher is Senior Commercial Vehicle Analyst for Power Systems Research

  • Marine Exhibition 2025: Industry Collaboration and Innovation

    Natasa Mulahalilovic
    Natasa Mulahalilovic

    Read the complete Show Report here
    The Electric & Hybrid Marine Exhibition 2025 held June 24 – 26, 2025 featured increased corporate collaboration and demonstrated a focus on sustainability, the adoption of immersive technologies, and enhanced connectivity.

    These development trends were built on a collaborative approach to maritime electrification and decarbonization and reflect incremental improvements as well as a strategic shift toward smarter, greener, and more autonomous marine operations.

    Representatives of Power Systems Research attended the show to collect data on new products and to talk with exhibitors and attendees about industry trends.

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