FOR IMMEDIATE RELEASE
Media Contact:
Summer Marrs
Senior Director of Communications & Public Relations
FARMINGTON HILLS, Mich. (Aug. 20, 2024) — NTEA – The Work Truck Association™ released the 25th edition of Annual Manufacturers’ Shipments Survey (AMSS) Report, which enables the commercial vehicle industry to estimate market size by dollars and units for 50 product lines. NTEA collects and evaluates aggregate results based on data submitted from 79 companies. The resulting report offers directional guidance to help industry manufacturers and distributors assess business performance.
Featuring 2023 data, the latest AMSS report indicates the 2023 value of shipments increased 9.7% as compared to 2022. Shipments rose 8.9% in 2022. Consistent with historic results is significant variation in product line growth rates. In unit terms, many product lines registered declines relative to 2022. In total, though, units were nearly level with 2022, which is reflective of chassis sales data from NTEA’s Monthly OEM Statistics Program.
“Companies can use AMSS report data as a helpful benchmark for assessing changes in market size and growth,” said Steve Latin-Kasper, NTEA senior director of market data and research. “This resource provides insight into a broad swath of the commercial truck and truck equipment industry to support strategic business planning efforts.”
This resource can help
- Evaluate approximate market size
- Assess changes in market growth (in terms of units/dollars)
- Provide insights in determining your company’s market share
There are a number of ways to estimate the size of the commercial truck and truck equipment industry. However, dollar measurement is required in order to compare the industry’s contribution to the larger manufacturing and wholesale trade economic sectors. NTEA publishes AMSS data in unit and dollar terms and provides indexes, enabling accurate annual percent change calculation for each market segment. Companies are encouraged to use report findings to support annual business planning processes.
Survey participants receive a complimentary AMSS report as well as a data tool containing results in an Excel spreadsheet for easier manipulation. Learn more and purchase ($299 NTEA members, $599 nonmembers) at ntea.com/amss. If interested in participating in the next AMSS survey, email info@ntea.com.
ABOUT NTEA
Established in 1964, NTEA – The Work Truck Association™, a 501(c)(6) organization, represents more than 2,100 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.
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