Top Truck Manufacturers - North America
Hino Motors and Isuzu were found to be two more top truck manufacturers in North America. Hino Motors is owned by Toyota and has a rough market share of 3.5%. Isuzu has a market share of around 6.5% of the North American truck market.
- Hino proclaims itself as the "fastest growing medium duty truck brand" in North America. Hino is owned by Toyota.
- According to its annual report, Hino Motors saw great growth in truck sales in North America, recording 16,556 units sold in 2018. In the US alone, they sold 13,354, representing an 18.9% increase.
- Unfortunately, the annual report does not give North America revenue figures (just units), but all non-Asia sales (North America, South America, Europe, MENA and Oceania) for the company totaled ¥241.2 billion.
- Toyota's annual report does not give North American truck revenues, either.
- Hino's market share, based on units, is roughly 3.5%.
- Isuzu sold 166,778 units in North America last year but this is not broken out by trucks or other types. It is estimated 30,854 of these were medium and heavy-duty vehicles.
- North America comprises 7.8% of the company's overall sales. The company made ¥369,117 million from medium and heavy-duty trucks and buses. Roughly, this means around ¥28,791 million came from North American sales.
- Isuzu has a rough market share of 6.5% of the North American truck market.
It was quite difficult to ascertain further prominent truck manufacturers in North America outside of the ones already identified in the Early Findings. Daimler, Kenworth, Paccar, Navistar International and Volvo are consistently named as the biggest manufacturers of heavy/medium trucks in the US. Expanding our research to worldwide truck manufacturers, the top 10 are Daimler, TATA Motors, Dongfeng, Navistar International, Volvo, Hino, Iveco, PACCAR, MAN and Scania. Of these not already mentioned, TATA Motors, Dongfeng (owned by Volvo), Iveco and MAN (owned by Volkswagen) do not have a presence in North America. Scania (also owned by VW) only manufacturers engines in North America not whole trucks. We then turned to other sources, such as trade associations. Member companies of the Truck & Engine Manufacturers Association helped reveal some other major North American manufacturers. As a note, General Motors (under the Chevrolet brand) does manufacturers some medium-duty commercial trucks, however GM does not give revenue or sales units in their annual revenue, so elected not to cover them in this research. Therefore, the only two other truck manufacturers that were members of the Truck & Engine Manufacturers Association were Hino and Isuzu.
In order to compute market size, we took information that Freightliner sells 190,000 trucks and has a market share of 40%. This makes the market size roughly 475,000 units. Therefore, we can compute Hino's market share as 3.5% (16,556 / 475,000 x 100).
For Isuzu, we had to calculate roughly how many medium and heavy-duty vehicles were sold in North America. Isuzu sold 166,778 units in North America last year, but this is not broken out by trucks or other types. Out of all 'export' vehicles sold by Isuzu, 28,665 were heavy and medium duty, which is 18.5%. This means that roughly, 30,854 units of medium and heavy-duty vehicles were sold in North America by Isuzu (166,778 x 18.5%). 30,854 / 475,000 x 100 = 6.5% market share.