In terms of the trucking industry, original equipment manufacturer (OEM) refers to parts made by the same company that makes the vehicle (as opposed to aftermarket parts, which are produced by different companies and designed to be compatible with as many vehicles as possible). While OEM products may cost more than aftermarket upfront, the price reflects the quality.
The biggest commercial truck manufacturer in the world is Daimler AG (better known as Daimler Chrysler), which produces the brands Mercedes-Benz, Western Star, Freightliner, Sterling Trucks, and Fuso, among others. Other leading commercial truck manufacturers include Volkswagen Group (which produces MAN, Scania and Volkswagen Commercial-Vehicles), Volvo Group (which produces Volvo, Renault, Mack, Eicher, and UD Trucks), and Dongfeng Motor, China’s largest automaker.
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Profitability will lag in high growth markets like Brazil and India, but aftersales services in NAFTA and the EU will drive profitability growth.
USA Truck had an aggressive plan to add trucks to its fleet, but delays at the OEMs are falling short of the targets.
Fleets ordered 41,800 new trucks in the month of June, making last month the busiest June on record. OEM stock prices rose on the news, and their order backlogs continued to lengthen.
