FARMINGTON HILLS, Mich. — According to the National Truck Equipment Association (NTEA), companies in the work truck industry are facing consolidation pressures and increased competition, and the current economic climate only makes the future more challenging.
Over the past two years, The National Truck Equipment Association (NTEA) has commissioned two unprecedented marketplace studies to analyze the changing work truck industry in order to provide members with a comprehensive overview and plan of attack for surviving and thriving in the years ahead.
The Industry Overview and Strategic Bundle consists of two detailed reports designed to assist NTEA members and industry professionals in understanding the factors shaping and changing the industry and their implications on truck equipment firms. This bundle highlights the challenges in today’s marketplace, along with clear opportunities for growth.
Key findings indicate compressed distribution and sales channels are imminent, with more sales occurring through fewer outlets and with a reduced number of suppliers and upfitters. Strategic use of technology, market positioning, finding and promoting core competencies and identifying global opportunities are examples of ways to prepare for a consolidated industry, according to NTEA.
"These Reports include specific planning tactics and strategies to help our members navigate and compete in these challenging times," said Jim Carney, NTEA executive director. "We aim to help our members understand the threats and the opportunities facing them today in order to position themselves for a successful tomorrow."
A special educational session “From Tactical to Practical: A Playbook for Identifying Profitability and Survivability” will further explore these findings at the upcoming NTEA Convention, which takes place in conjunction with The Work Truck Show at Chicago’s McCormick Place March 3-6.
For more information on the reports or the Work Truck Show Session, visit www.ntea.com.
