In a recent development, Andrew Wrobel, a Senior Powertrain Analyst at Escelant [Rhein Associates], noted that the California Air Resources Board (CARB) has approved an ambitious $2.6 billion investment plan aimed at accelerating the transition to zero-emission transportation. The bulk of these funds will be directed towards supporting cleaner trucks and buses, reflecting a strategic focus on reducing emissions in the freight and public transport sectors.
Wrobel also highlighted a promising trend in the electric vehicle market, stating that battery electric truck production is projected to triple this year compared to last year. Despite this significant growth, he emphasized that it remains a modest increase within the larger truck production landscape, currently representing less than 1% of total truck output.
Shifting focus to the broader economic outlook, Kenny Vieth, President and Senior Analyst at ACT Research, remarked on the resilience of the U.S. economy, which posted a 2.9% growth rate in the fourth quarter of 2022, exceeding expectations and boosting the annual growth figure to 2.1%. This marked the first time since the onset of the pandemic that all economic sectors contributed positively to the nation's performance. Vieth tempered optimism with a cautious prediction, suggesting that while a recession remains probable, it is likely to be mild in both severity and duration. However, he indicated that the timeline for this downturn might now align more closely with political developments surrounding the debt ceiling and the perceived creditworthiness of U.S. debt in Washington.
The NA on-highway engine forecast, jointly produced by ACT Research and Escelant [Rhein Associates], provides a comprehensive outlook on power-source activities for commercial vehicles within GVWs 5-8. This forecast includes five-year projections of engine volumes and product trends, intricately linked to ACT's detailed monthly NA CV vehicle forecasts. Such insights are invaluable for businesses and manufacturers in the commercial vehicle engine production supply chain, as well as investors tracking the performance of engine Original Equipment Manufacturers (OEMs) and their suppliers.
Rhein Associates stands out as a premier provider of competitive intelligence on North American commercial vehicle and off-highway powertrain landscapes. Known for delivering precise, comprehensive, and relevant market data, analysis, and insights, Rhein Associates' analysts maintain strong industry connections. Their expansive data coverage spans on-road commercial vehicles, off-road machinery, marine, industrial, agricultural, and electrification sectors. Rhein Associates publishes *The Rhein Report*, offering weekly and monthly market analysis through insightful articles and reports. The powertrain forecast database extends from 2010 to 2033, covering both on-road and off-road applications. For further details, visit http://www.rheinassociates.com/.
ACT Research, acknowledged as a leading authority on commercial vehicle truck, trailer, and bus industry data, market analysis, and forecasts for North America and China, serves prominent players in the industry, including major truck and trailer manufacturers, their suppliers, banks, and investment firms. ACT Research contributes to the Blue Chip Economic Indicators and is part of the Wall Street Journal Economic Forecast Panel. Its executives have garnered numerous accolades, such as election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and recognition for the most accurate economic forecasts over a four-year period. ACT Research's senior staff has been honored with awards like the Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast and the Wall Street Journal Top Economic Outlook. Visit www.actresearch.net for more information.
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