North America High Performance Trucks Market 2018 Leading Countries and Top Key Players Analysis | Chevrolet, Lincoln, Arden Dodge, Ford, Volvo Trucks, Gmc l Forecast 2023

Initially, this model was offered only as a regular cab with a six-speed manual transmission, tires on 22-inch rims, and a lowered suspension with Bilstein shocks. The power range, which was initially 0- 60 times in the 5-second range was enhanced by a 4.56:1 axle ratio. The aerodynamic enhancements helped the vehicle emerge as one of the fastest pickup trucks at 154.587 mph. Dodge is one of the standout examples of companies that were intricately involved in the manufacturing of high-performance trucks in North America, as well as in the European markets, especially in the last five years. The growth of the market could be accounted for the increasing demand for high-performance commercial vehicles from the manufacturing and industrial sectors.

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In the United States, the market growth is expected to remain below historic trends. The forecast for GDP growth is 4%-5%, which is primarily due to the slower-than-expected global growth. The situation is different in Canada, since low oil prices affect the economy more substantially. However, the commercial truck sales have started to increase faster in Canada than in the United States. A majority of trucks built in North America are sold in the country itself.

As a result, automotive events likely to happen in the United States during 2018 are far more important to the forecast for truck sales than events in the global economy. The construction sector in the United States has been performing well because of the growth in the residential segment, outweighing a decline in the non-residential segment. The high-performance commercial vehicle is essentially required to deliver better performances by aligning and upgrading the vehicle’s engine with superchargers and turbochargers.

Major Players:
CHEVROLET, LINCOLN, ARDEN DODGE, FORD, VOLVO TRUCKS, GMC, amongst others.

Key Developments in the Market

March 2018: Ford to increase its electrified vehicle investment to USD 11 billion. 86% trucks and SUVs are anticipated to be in the product mix, by 2020.
March 2018: Volvo trucks’ new VNX series is heavy-haul’s new heavy hitter. It built specifically for the needs of heavy-haul trucking operations. It is available with up to 605 horsepower and 2,050 ft.lb. of torque.

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However, the growth of the high-performance trucks market is expected to be restrained by the huge cost of manufacturing and the limited scope of electrification of such high-performance trucks. However, the introduction of high-performance electric trucks with advanced features for ensuring better performance and enhanced driver comfort is expected to generate tremendous opportunities during the forecast period.

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