A Story of COVID-19, Semiconductors and the Truck User
Who knew that when we were at home during the pandemic binge watching streaming services and attending virtual meetings we were setting in motion market dynamics in the truck industry?
Thatโs right. Last year the demand for computers and televisions went through the roof. At the same time, truck production slowed down. And now, the excess supply of semiconductors โ critical to computers, televisions, smartphones, power steering, power windows and brakes alike โ has been snapped up by the consumer goods segment.
As truck manufacturers now deal with the semiconductor shortage and the resulting production slowdowns, what can users do?
What can you do?
- Users will need to plan their purchases earlier than normal. With most OE manufacturers stating November and beyond for delivery of ordered chassis customers will need to adjust their purchasing strategies.
- We can wait it out. OE Manufacturers return to full production levels within the supply chain will then be followed by a lag in manufacturing capacity as OEs ramp up their workforce.
- Consider other equipment โ trailers โ lower the amount of equipment needed due to capacity improvement. Provides ability for used or rental units for power.
- Consider used equipment. The used truck market will accelerate with the increased demand so the end user must respond quickly to find and acquire quality used vehicles.
