A perfect storm is brewing in the truck industry that will affect chassis availability over the next six to 12 months. We are seeing an impact in both gas and diesel product availability. Clients are encouraged to identify and order any chassis needs at their earliest convenience to ensure meeting anticipated delivery dates.
The contraction in the market is based on several factors:
- The recent announcement that Hino will halt truck production until it can meet new US engine certification has caused concern about overall truck chassis availability in the near term. Production is expected to resume in Sept. 2021.
- Supply contraction of chassis bodies has been further impacted by the exit of Mitsubishi Fuso from the market as announced in 2020.
- Global shortages of steel and silicon chips among other things have left OEMs scrambling to keep up with demand.
- The quarantine-driven demand for more home delivery business has created a greater need for trucks by large users (i.e. FedEx, UPS and Amazon).
- Mobilization of vaccine deliveries has impacted truck usage.
