Posted November 16, 2020 08:11:58 When the new tractor and trailer season rolls around, expect the sales of new and used trucks to ramp up again.
The Ohio truck market has been one of the fastest-growing segments in the country since the first wave of truck sales in 2015.
That year, the Ohio truck sales grew 20.3% year-over-year.
However, in 2019, the truck market was down 3.6% in Ohio.
That’s a huge difference when you consider the economy is booming, and many truckers are looking to save money.
“You’ve got to look at it in the context of other trends,” said John Loepp, senior vice president at trucking giant Daimler.
“Trucks are getting cheaper, and trucks are getting smaller.
We’re seeing some changes in the market, but they’re still driven by demand for larger, more fuel-efficient trucks.”
As we reported last month, truck prices have gone up over the past year.
And that’s partly because the industry has been hit by record-breaking weather, which has caused some of the largest spikes in the economy in recent years.
And with many trucking companies now making pickups with bigger engines, the industry is also looking to make up for the losses in sales with higher prices.
“The truck industry has had a difficult year.
In order to continue to grow, we have to take advantage of every opportunity,” said Dan Ebert, vice president of marketing and sales for Cummins.
“In order to do that, we need to be in a position to sell higher prices, and that’s what we’re doing with our trucks.
We’ve been offering the best prices on Cummins’ trucks and the best price for Cummin trucks,” said Ebert.
But that doesn’t mean Cummins isn’t taking the opportunity to raise prices on trucks.
“We’re continuing to push for a competitive advantage.
And we’re looking to drive down the price of trucks in Ohio,” said Loeffler.
Loepps says Cummins will continue to work with truck manufacturers to help offset the higher prices on its trucks.
And he says the Ohio market is still growing.
“This year, we expect the number of truck purchases to be at a new high of 3.4 million, up from 3.3 million last year,” said Dave Matson, vice chairman and chief financial officer for Cummis.
Matson says the company expects a 10% increase in the Ohio sales this year.
“So the Ohio Truck Sales, which is a very important segment for Cumminer, is growing very quickly,” said Matson.
“And it’s still a very attractive segment, particularly in the Northeast Ohio region.”
For more information on how to buy a new truck, check out the Truck Sales page on Cummin’s website.