The World Heavy Truck Industry: Structural Change Ahead
The global truck manufacturing industry is undergoing substantial change. As is the case with the automotive industry in general, pressures of globalisation, intensifying competition and the need to reduce cost bases are all driving the industry in the direction of further consolidation. For the truck industry in particular, this is nothing new. The past few decades have seen a steady increase in the industry’s level of concentration. It is a long-standing trend being driven by the economic fundamentals of truck manufacturing. It is an industry driven by the need to achieve scale economies on high capital costs.
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