Market Vitals: Seminar 69 Market Update
43 Television,Hd Smart Television,Led Television,Liquid Crystal Tv Jiangsu Hengye Precision Technology Co.,Ltd , https://www.hengyejmtv.com
After attending ACT Research's Market Vitals: The Current and Future Health of the Market Seminar on August 22–24, Kirk Mann from Mitsubishi HC Capital America, Inc., along with Steve Tam from ACT Research, had a detailed conversation about economics, clean technology, the dealer market, pent-up demand, and the used and medium-duty sectors. Below is a summary of their insights from the seminar.
**1. Economics**
David Teolis, former Deputy Chief Economist, Michael Zimm from BMO, and Jim Meil from ACT Research shared their unique perspectives on the current economic landscape. Steve noted that even with the same data, people can come to different conclusions. “This economy is really confusing,†Kirk added. During a poll, about half the audience believed a recession was likely. “We can’t control the market, but we can control what we do next,†Kirk said. He emphasized that no matter what happens, the industry will adapt and move forward.
**2. Clean Technology Development**
Kirk praised Rick Dauch from Workhorse for his transparency in discussing the EV market. “There’s been a lot of hype around electric vehicles, which isn’t bad—it’s brought attention and investment,†Steve said. However, challenges remain. “We know where the problems are, and we’re starting to fix them.†Kirk stressed the importance of lenders getting involved in the transition to clean energy. “If they're at these events, they’ll hear what the future looks like over the next five to ten years,†he said. Steve encouraged businesses to plan now and adjust as needed.
**3. Dealer Market**
The dealer panel included Laura Perrotta from ATD, Jodie Teuton from Kenworth of Louisiana, and Maria Sherwood from Sherwood Trucks. They discussed how dealers have adapted to changing conditions and how the customer experience has evolved. Kirk called the session “telling†and highly recommended it. He noted that while supply chain issues continue, there’s a growing demand for trucks. Steve explained that fleets have been unable to replace trucks at full capacity for several years, leading to significant pent-up demand. “It’s going to take time, but things will eventually settle out,†he said.
**4. Pent-Up Demand + Prebuy**
Kirk predicted that the upcoming emissions standards in 2027 could lead to historic prebuy activity in 2025 and 2026. “OEMs will need to ramp up production to meet this demand,†he said. Steve agreed, noting that many units for 2026 have already been reserved, and some may shift into 2024. “OEMs are keeping assembly lines running to retain labor,†he added, suggesting that prebuy activity might be leaking into the coming year.
**5. Used & Medium Duty**
Steve was surprised by the volume of used truck sales and the drop in prices, calling it a good time to shop for used trucks. On the medium-duty side, he was impressed by the resilience of demand. “It’s holding up better than expected,†he said. There’s always a balance between medium- and heavy-duty markets, with trade-offs happening across the board. Overall, the sector is showing strength despite ongoing challenges.