Andrew Wrobel, a Senior Powertrain Analyst at Escelant [Rhein Associates], highlighted that the California Air Resources Board (CARB) has greenlit a $2.6 billion investment plan aimed at facilitating the transition to zero-emission transportation. The bulk of these incentives and subsidies are targeted at promoting cleaner trucks and buses. Wrobel noted, "Battery electric truck production is projected to triple this year compared to last year. Nevertheless, despite this significant growth, it remains relatively modest within the broader automotive market, representing less than 1% of total truck production."
Kenny Vieth, President and Senior Analyst at ACT Research, shared his insights on the U.S. economic outlook. He mentioned, "The U.S. economy expanded by 2.9% in Q4’22, surpassing expectations and driving the full-year 2022 growth to 2.1%. Notably, this was the first quarter since the onset of the pandemic where every sector contributed positively to the economy." Vieth also added, "While our economic outlook remains consistent with previous assessments, we now anticipate the timing of a potential recession to align more closely with the ongoing political negotiations in Washington regarding the debt ceiling and U.S. creditworthiness, rather than occurring in the first half of 2023."
The NA on-highway engine forecast, a collaborative effort between ACT Research and Escelant [Rhein Associates], offers a comprehensive five-year projection of engine volumes and product trends for commercial vehicles with GVWs 5-8. This forecast is closely tied to ACT Research's detailed monthly NA commercial vehicle forecasts. It serves as an invaluable resource for businesses and manufacturers within the commercial vehicle engine production supply chain, as well as for companies tracking the investment value of engine OEMs and their suppliers.
Rhein Associates stands out as a premier provider of intelligence on the North American commercial vehicle and off-highway powertrain competitive landscape. Known for its accurate, thorough, and relevant databases, analysis, and insights, Rhein Associates leverages analysts deeply embedded in the industry. Its data spans on-road commercial vehicles, off-highway applications, marine, industrial, agricultural, and electrification sectors. Rhein Associates publishes *The Rhein Report*, offering weekly and monthly market analysis through news and commentary. The powertrain forecast database encompasses OEM, Engine Model, and Specifications from 2010 to 2033 for both on-highway and off-highway applications. For more information, visit http://www.rheinassociates.com/.
ACT Research is acknowledged as the leading publisher of data, market analysis, and forecasts for the North American and Chinese commercial vehicle, truck, trailer, and bus industries. Its analytical services are utilized by major North American truck and trailer manufacturers and their suppliers, as well as financial institutions. ACT Research contributes to the Blue Chip Economic Indicators and is a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received numerous accolades, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for the most accurate economic forecast over a four-year period. ACT Research senior staff members have been recognized with honors such as the Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. For further details, visit www.actresearch.net.
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