FARMINGTON HILLS, MI – Commercial truck sales will experience a slow recovery after the first quarter of 2008, while heavy-duty sales are likely to grow faster in 2008 than will medium-duty trucks, according to Stephen Latin-Kasper, National Truck Equipment Association (NTEA) market data and research director.

Latin-Kasper was one of five leading economists who spoke at the 2008 Business and Market Planning Summit held Oct. 30–31 in Rosemont, Ill. Latin-Kasper also predicted moderate interest rates and inflation, low unemployment, and increased trade, as well as increased state and local revenues.

In addition to Latin-Kasper, the following economists spoke at the Summit: William Strauss, senior economist and economic advisor for the Federal Reserve Bank of Chicago (Chicago, Ill.); Mark Vitner, senior economist and director of corporate investment banking for Wachovia Corporation (Charlotte, N.C.); Martin Labbe, president & CEO of Martin Labbe Associates LLC (Ormond Beach, Fla.); and Eli Lustgarten, senior vice president of Longbow Securities (Cleveland, Ohio) and president of ESL Consultants, Inc. (St. Louis, Mo.).

Michael Ricco, professor of marketing management and strategic marketing for Marquette University (Milwaukee, Wis.) and president of Ricco Consulting LLC (Cedarburg, Wis.), reviewed the basics of market planning to help participants re-evaluate their business opportunity and direction for growth.

The economists also stated that:

  • Oil prices are near all-time highs, but when adjusted for inflation, they are well below early 1980s prices.
  • A demand for ethanol will be a key factor in the increased demand for farm equipment.

    The NTEA, in cooperation with co-sponsor the National Trailer Dealers Association (NTDA), hosted the summit. For a complete recap of the summit, visit www.ntea.com or www.ntda.org.

    • 0 Comments