Truck Market Overview in the USA
In value terms, truck production expanded to $ in 2019. Overall, the total production indicated a measured expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2016 indices. The pace of growth appeared the most rapid in 2010 when the production volume increased by % y-o-y. The U.S. production peaked at $ in 2015; however, from 2016 to 2019, production failed to regain the momentum.
The value of the truck market in the U.S. contracted slightly to $ in 2019, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2012 when the market value increased by % y-o-y. As a result, consumption attained the peak level of $. From 2013 to 2019, the growth of the market failed to regain the momentum.