A Volvo Construction Equipment (Volvo CE) executive offered some insights on the rigid hauler market and the state of Terex Trucks, which Volvo CE acquired two summers ago.
According to Andrew Knight, vice president of strategy and business development at Volvo CE, the rigid hauler market is currently “in the doldrums” due to low demand for commodities. The North American market has been a challenging one for Terex Trucks, Knight admits, but he is optimistic about the brand’s future in the market.
“The total market itself is tough, so we never assume the economy will get us out of a problem,” Knight says. “But if we continue to do the right things, when the market recovers there’s no reason why Terex Trucks cannot be successful.”
The latest technological features may not be incorporated into Terex Trucks’ equipment but the brand has a history of serving customers well, the company says.
“We bought a business [Terex Trucks] with a well-regarded reputation and an established population of products in the field,” Knight says. “Machines that need looking after with parts and services, and that offer a good revenue stream. We bought Terex Trucks because it has a range of products that we don’t have – rigid haulers – but also because we could see advantages in having a value brand of articulated haulers in our portfolio. So short-term market volatility aside, the strategic reasoning for getting into this business remains valid.”
Earlier this year, Terex Trucks introduced the generation 10 TA400 articulated dump truck. The rollout showcases Terex Trucks’ robust simplicity and highlights its position in the articulated hauler market, the company says.
“Many of our customers have told us, ‘Don’t make the product any more complicated; we run these machines in arduous environments, miles away from workshops and civilization, and we need to fix the product in a straightforward and easy way ourselves,'” Knight says.
