Mack Records Sixth Straight Year of U.S. Market Share Growth
22 January 1999
Mack Records Sixth Straight Year of U.S. Market Share Growth
LEHIGH VALLEY, Pa.--Jan. 21, 1999--Mack Trucks Inc. Thursday announced that it closed 1998 with 26,801 U.S. Class 8 retail sales, which represented 12.8 percent of the heavy truck market.This was an increase from 12.5 percent in 1997, making Mack the only U.S. Class 8 truck manufacturer to consistently increase its market share over the last six years.
The U.S. truck market had a record year in 1998, with the total retail volume increasing 17 percent, to 209,483 vehicles. Mack's sales growth outpaced the industry's -- retailing 4,426 more vehicles than in 1997, the company increased its volume by nearly 20 percent. Mack also strengthened its position as the industry's number three nameplate.
"Mack reinforced its dominance in the construction and refuse market segments in 1998, and the popularity of our highway products continued to grow," said Michel Gigou, Mack president and CEO. "We've entered 1999 with very strong demand, and the introduction of an exciting new long-haul tractor will help us boost our market share again this year."
The company's Canadian subsidiary, Mack Canada Inc., increased its retail sales volume by 4.2 percent, to 2,886 vehicles. This represented a 10 percent share of the Canadian market, compared to 10.4 percent in 1997.
Mack's major overseas subsidiary, Mack Trucks Australia Pty. Ltd., increased sales by 6.8 percent to 704 units, which represented 14.1 percent of the Australian market, compared to 15.2 percent in 1997. The Australian market was severely disturbed during 1998 due to currency fluctuations and the Asian currency crisis.
Mack will introduce five new models to the Australian market in 1999, which it expects to boost the company's share this year.
Year-end figures for industry exports are not yet available. However, Mack increased its exports by 14.6 percent, to 3,269 vehicles; the company was North America's second-leading exporter through October, with 26 percent of the market.
Dedicated to quality, reliability, and total customer satisfaction, Mack Trucks Inc. has provided innovative, forward-thinking products and services to its customers worldwide for nearly a century. Mack is one of North America's largest producers of heavy-duty trucks, in addition to major product components. The company also markets a line of medium-duty diesel trucks throughout North America. MACK vehicles are sold and serviced in more than 65 countries worldwide.
For more information about Mack, visit our Web site at www.macktrucks.com.