The demand for low-cost trucks is set to experience steady and robust growth over the next 5 years
London,EN,UK -Andhra News (India) -March 9, 2011: -- The rising reliance of emerging economies on cost-effective light, medium and heavy commercial vehicles coupled with a recessionary environment in developed economies is creating tectonic changes in demand for trucks worldwide... New analysis from Frost & Sullivan, Strategic Analysis of Global Low-cost Truck Market, reports that over 3.2 million low-cost commercial trucks will be manufactured globally in 2016. Around 29 low-cost truck models will be introduced by global OEMs by 2016, indicating the rapid expansion and pertinence of low-cost light commercial vehicles (LCVs), medium commercial vehicles (MCVs) and heavy commercial vehicles (HCVs) in global markets. Powertrain, chassis, safety, comfort and convenience and other marketing related expenses will be key focal points for cost reduction in an endeavour to create low-cost trucks... The low-cost truck will be initially fuelled by demand from BRIC nations, gradually finding traction in developed economies and eventually supported by the growth in the Next 11 economies. The changing nature of commercial vehicle activities under an environment of rising urbanisation, economic and energy price volatility and robust growth in demand for cost-effective commercial vehicles are compelling global truckmakers and suppliers to participate in this growing segment... This implies that a new segment is being created rapidly in the global commercial truck market offering growth opportunities to truckmakers and suppliers alike. This is also offering the opportunity to mature market OEMs to attain rapid volume growth in both local and global markets... In an endeavour to penetrate and grow in global markets, Asian OEMs have created low-cost truck platforms that are customisable to meet local market needs. The North American and European OEMs are acknowledging the threat and also realising the opportunities that they can avail through participation in the global low-cost truck market...Labels: analysis, opinions
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