Hino Trucks says it recorded a record month in March 2008 by attaining retail sales of 900 units and achieving 15 percent market share in the Class 6 market segment, and 3 percent market share in the Class 7 market. “This is a real testament to the gaining acceptance of our product in both these market segments,” says Nick Vermet, senior vice president of sales and customer support for Bloomfield Hills, Mich.-based Hino Trucks.
For its fiscal year ended on March 31, Hino Trucks says it had retail sales of 5,350 trucks, off 960 units from the previous year. “As an industry, the Class 6 and 7 market segments were down 38 percent in our 2007 fiscal year,” says Glenn Ellis, vice president of marketing and dealer development. “We were able to gain market share in both of these segments and outpaced the market with only a 14 percent decline in sales year over year.” Additionally, Hino Trucks says it grew its dealer network in 2007, now standing at 175 dealers nationwide.
Hino Trucks is forecasting the Class 4-7 market segments to be flat this year based on the current economic situation, but has set its sales goal to sell 7,000 units in its fiscal year 2008. Hino Trucks says it believes that a good portion of these additional sales will come in the East Coast, thus the need to move production to Hino’s newest plant in Williamstown, W.Va.
“In addition to aligning production with the majority of our customer base, the sheer size of the facility in West Virginia will allow for a more flexible manufacturing scenario,” says Bob Petz, vice president of logistics operations.