A tough month for the industrial vehicles market
The industrial vehicles market saw a sharp decline in November 2024, with only 1,967 registrations compared to 2,609 in the same period in 2023, marking a 24.6% drop. This downward trend affected all weight categories, reflecting a worrying slowdown.
Vehicles between 3.51 and 6 tons were particularly impacted, with just 55 units registered, a 32.9% decrease from 82 the previous year. Medium-weight vehicles between 6.01 and 15.99 tons also dropped by 18%, from 328 to 269 units. The heavy-duty segment over 16 tons recorded 1,643 registrations, down 25.3% compared to 2,199 in November 2023.
Structural challenges
The overall market showed a 0.8% decrease in the first 11 months of 2024, with 26,635 registrations compared to 26,861 in 2023. According to Paolo A. Starace, President of UNRAE’s Industrial Vehicles Section, quick fixes like click-days or limited incentive funds will not solve the problem.
“The crisis is deeply rooted and requires strategic and long-term solutions to ensure sustainability for the entire supply chain,” Starace emphasized.
Looking ahead
Starace warned of even tougher times in 2025, with forecasts suggesting a decline between 10% and 15%, or potentially worse. Key proposals to address the crisis include:
- Support for transport companies, with tailored incentives.
- Establishing a multi-year fund to facilitate the ecological transition.
- Promoting EU-level policies to boost industry competitiveness.
Conclusion
The industrial vehicles market crisis demands urgent, comprehensive action at both national and European levels. Only an integrated approach can revitalize the sector.
What’s your take on the market’s challenges? Share your thoughts in the comments below!
