The outcome of the US election is not expected to have an immediate impact on the global truck industry, but uncertainties may arise in the near future. However, in the long term, a potential return of Trump to the presidency could bring significant changes, particularly in areas such as emissions regulations, trade policies, and domestic manufacturing focus.
In the past, Trump has shown a willingness to roll back environmental regulations, including emissions standards, which could affect the truck industry. If re-elected, he may continue to push for relaxed emissions standards for heavy-duty vehicles, potentially slowing down the adoption of Zero-Emission Vehicle (ZEV) technologies globally.
Trump’s trade policies, which prioritize American manufacturing, could also impact international truck manufacturers and parts suppliers. Tariffs and incentives for domestic production may disrupt global supply chains and trade relationships.
Forecast adjustments have already been made in anticipation of the election result. European truck production forecasts have been reduced, and Chinese forecasts have also been revised downward due to potential trade conflicts with the US.
In North America, there is a possibility of changes in the EPA’27 mandate and challenges to California’s authority to set emissions standards. Despite potential rollbacks, the adoption of ZEVs is expected to continue due to cost parity and market demand.
In Europe, political changes could lead to reevaluations of climate targets, especially in countries like Germany and the UK. The ongoing conflict in Ukraine could also impact the European truck industry by affecting energy costs and regional stability.
Overall, the global truck industry is bracing for potential shifts in regulations, trade policies, and market dynamics based on the outcome of the US election. It is essential for industry players to monitor these developments closely and adapt their strategies accordingly.
