Truckable Economic Activity
In early March, we published our March TEA® Report. Our 2018 numbers are finalized as the year-end GDP numbers have been released.
Truckable Economic Activity continued to grow in Q4 2018. TEA® growth was smaller in Q4 than in Q3 as Exports and Imports showed the first effects of the trade disputes. The growth rate of Total TEA® slowed somewhat in Q4 as Truckable Investment posted the only notable growth in Q4. Is this evidence of instability or a result of the trade negotiations? We will continue to keep our eye on this.
Truckable Economic Activity
Number in parenthesis is share of truckable economic activity
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2019 Service Study
We are a month away from the launch of our 2019 Truck & Trailer Service Study!
Our 2019 study marks the 5th analysis we have conducted of the service market.
Four years ago, we completed an extensive study on the service side of the market. At that time over 600 million service labor hours were needed to support the 9.2 million units in operation. Since 2015, the operating population has grown by 24% to 11.4 million units. With the population increase coupled with the strong economy and increasing complexity of the truck, examining the service opportunity is even more relevant.
We will examine the service labor market from both the fleet and service provider perspectives.
What are fleets’ service challenges?
Are the service opportunities expanding or contracting?
Are the service needs of the fleet being met?
How much service work is currently being outsourced and will this change in the future?
How will future service needs differ from current needs?
Contact John Blodgett for more information.
2019 E-Commerce Parts Purchasing Study
E-Commerce is all the buzz! It’s in the press; it’s in conversation and it is here to stay. MacKay & Company conducted its inaugural Study of this ever-growing parts purchasing method in 2017. At that time, fleets indicated that online parts purchasing was already representing about 12% of their total parts purchases.
At a recent Roundtable at HDAW, several component suppliers discussed their perspectives on E-Commerce. Walt Sherbourne with Dayton Parts summed it up very well, “It’s really about getting the products to the end user through distribution”. Our 2017 study would concur; the top four reasons for making an online purchase are:
Convenience
Price
Parts Availability
Ability to Order 24/7
With the fast pace of this purchasing pattern, it is important to re-examine this market. Has the E-Commerce channel grown? Who is the current online buyer? What parts are most frequently purchased online? What support, knowledge and problem solving is expected from online parts purchasers?
Contact John Blodgett for more info.
