The Power Systems Research Truck Production Index (PSR-TPI) dropped from 128 to 1116, or 9.4%, for the three-month period ended Sept. 30, 2019, from Q2 2019. The year-over-year (Q3 2018 to Q3 2019) loss for the PSR-TPI was, 120 to 116, or 3.3%.
The PSR-TPI measures truck production globally and across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets.
This data comes from CV Link™, the proprietary database maintained by Power Systems Research.
Global Index: Much like the global economy, medium and heavy truck demand has slowed this year and is expected to remain soft throughout 2020. Currently, a global recession is not forecasted but a cooling off is expected over the longer term.
All Regions: Commercial truck demand in North America and portions of Eastern Europe have been relatively strong for much of the year while most other regions have experienced a slowdown. PSR expects a continued slowdown in medium and heavy truck demand for most regions in 2020.
North America: While demand for medium and heavy commercial trucks have been very strong this year, a slowdown in demand has started and PSR expects significantly lower class 8 truck production in 2020 as a result of a slowing economy, lower freight rates, uncertainty surrounding the tariff situation and an overcapacity of heavy trucks in the market.
Europe: Demand for medium and heavy commercial trucks continues to slow in Western Europe as the global economy has weakened and trade tariffs are having a negative impact on the European economy. Germany is currently teetering on recession as demand for vehicles has declined in recent months.
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SOURCE: Power Systems Research
