To movie buffs, Freedonia is the name of the fictional country that is the setting for the 1933 Marx Brothers classic Duck Soup. But for executives in nearly every prominent trade, including the heavy-duty truck parts industry, the Freedonia Group is recognized as one of the top international business research companies.
Since 1985, Freedonia has published respected research studies that many companies use as a barometer of what to expect in the years to come, a means to determine market and sales potential, and a guide for how to prepare accordingly if the forecast is positive or negative. More than 90% of the industrial companies in the Fortune 500 use Freedonia research to help with their strategic planning.
This past April, the Freedonia Group released Medium- and Heavy-Duty Truck Market to 2013, an industry study with more than 300 pages of analysis on such topics as parts supply and demand, technology and materials trends, pricing trends, environmental regulations, and other issues that will have a profound impact on the heavy-duty truck parts industry.
The cost of the study is $4,600. There are plenty of companies who will not even blink at that price, given the value of the information contained therein. But for smaller businesses that aren’t used to paying top dollar for industry research, that charge might be out of reach.
Fortunately, Freedonia did release some of the conclusions of their research, and the numbers present a positive forecast for the heavy-duty truck parts industry in the next five years.
Read Outlook Promising for Aftermarket Heavy Duty Truck Parts, which summarizes the findings of the Freedonia Group report and what it means for parts dealers.
Technology breakthroughs in heavy-duty brake parts and truck parts can reduce accidents and save lives, and there is now legislation moving through both houses of Congress to provide a tax credit for the purchase of advanced safety equipment for heavy-duty trucks and other vehicles.
Whatever one’s personal political beliefs, perhaps most of us would agree with the theory that governments, whether federal, state or local, are much better at talking about getting something done than actually doing something.
Since talking about solutions doesn’t solve anything, and new laws or changes to old ones are few and far between, governments have recently begun experimenting more with a third option – paying people to take actions that Congress cannot legislate into existence.
Want to boost home ownership and stimulate the housing market? Offer first-time buyers a $8,000 tax credit. Want to boost the auto industry while promoting the purchase of more fuel-efficient cars? Create a “Cash for Clunkers” program. Want to encourage the use of environmentally responsible heavy-duty truck parts? Offer tax credits to manufacturers.
The U.S. Department of the Treasury and the U.S. Department of Energy will award $2.3 billion in tax credits to manufacturers of clean energy equipment. Qualifying manufacturers will produce a wide variety of products including solar, wind, and geothermal energy equipment; fuel cells, microturbines, and batteries; electric cars; electric grids to support the transmission of renewable energy; energy conservation technologies; and, for the heavy duty trucking industry, equipment that captures and sequesters carbon dioxide or reduces greenhouse gas emissions.
Making our roadways safer, and not just cleaner, is another issue being addressed via financial incentive. Technology breakthroughs in heavy-duty brake parts and truck parts can reduce accidents and save lives, and there is now legislation moving through both houses of Congress to provide a tax credit for the purchase of advanced safety equipment for heavy-duty trucks and other vehicles.
Read our exclusive finditparts.com article, Heavy Duty Brake Parts, Equipment Bill Rewards Safe Driving , which explains the proposed legislation and what it means to fleet owners and trucking companies.