As 2023 winds down and everyone prepares for 2024, some industry trends will keep on going and excel to higher heights. Technology, whether you hate it or love it, is a tool that can be used to either build your business up or tear it down. The Shyft Group’s Jacob Farmer brings his years of industry expertise to comment on current and upcoming trends, as well as leadership guidance.
MWS: WHAT ARE SOME UPCOMING TRENDS IN THE WORK TRUCK INDUSTRY?
Jacob Farmer: We’re seeing a significant move toward electrification and alternative propulsion in the industry. This isn’t merely a trend—it’s a necessity driven by the global push for emission reductions. At The Shyft Group, we’ve been operating in the EV space for quite some time, with our upfits for alternative propulsion vehicles for 18 years and electric vehicles for last mile customers. The latest addition to our EV portfolio is the introduction of our Blue Arc™ EVs, providing efficient, sustainable, commercial grade solutions for our customers.
Another noteworthy trend is the enhanced focus on the driver’s experience. We’re talking about not only comfort but also convenience and safety. Implementing features like driver-assistance and V2X connectivity are steps in this direction.
AI integration is also on the rise, playing a pivotal role in predictive maintenance and efficient repair management for work trucks. And let’s not forget the strong market demand as businesses are in a continuous cycle of updating and expanding their fleets.
Lastly, the industry is experiencing a robust market demand, with businesses consistently updating and expanding their vehicle fleets to meet their operational needs and capitalize on the latest technological advancements. This continuous renewal and expansion of fleets underscore the dynamic and growing nature of the work truck industry.
MWS: WHAT CHALLENGES WILL ACCOMPANY THESE TRENDS? HOW WILL THEY IMPACT THE INDUSTRY?
Farmer: Like any industry, we have our set of challenges. Supply chain issues are at the forefront, making it a task to ensure a steady supply of chassis to meet the demands for order fulfillment. Economic uncertainties, including inflation and interest rate fluctuations, also pose concerns that we need to navigate carefully. Developing and launching new EV products is resource-intensive, requiring significant investment and commitment, but it’s a challenge we’re ready to take on.
MWS: ANY THOUGHTS OR COMMENTS ON CURRENT TRENDS YOU’D LIKE TO SHARE?
Farmer: Current trends, especially electrification, AI, and driver assistance technologies, present not only challenges, but also exciting opportunities. These trends provide us at The Shyft Group with a platform to support and collaborate with our customers in innovative ways, helping them navigate the industry’s dynamic landscape.
The formation of our Blue Arc EV Solutions brand was the result of this type of collaboration. We had ongoing discussions with customers about their needs for a carbon-neutral solution in the last-mile delivery space, and when we were unable to find a viable EV chassis option in the market that could meet customers needs for robust, commercial-grade delivery vehicles, we decided to build our own.
MWS: GIVEN YOUR EXPERTISE, WHAT SHOULD FLEET MANAGERS AND OPERATORS KEEP IN MIND FOR 2024?
Farmer: For 2024, the focus should be on maximizing asset utilization and increasing uptime for enhanced productivity. It’s also crucial to adopt a driver-centric approach. While leveraging technology like telematics and Big Data is vital, maintaining a commitment to drivers and frontline staff—the real people at the heart of the business—is non-negotiable for success.
In this light, The Shyft Group’s “Shyft for Good” initiative exemplifies this commitment. This corporate-giving platform underscores the importance of community and employee engagement. It’s not just about financial contributions—it’s about fostering a culture of giving. Employees are at the core, guiding contributions and amplifying the program’s impact. With a quarterly allocation to essential causes, tangible differences are made, both locally and nationally. In essence, as fleet managers and operators navigate 2024, embracing such values-driven approaches can be the key to holistic success.
MWS: ANY ADVICE ON BUSINESS OR LEADERSHIP STRATEGIES FOR FLEET OWNERS?
Farmer: Certainly. Fleet owners should prioritize collaboration with seasoned industry leaders to harness their expertise and innovative solutions. At The Shyft Group, our legacy spans over 50 years, and our commitment to excellence is evident in our Work-Driven Design methodology. This approach begins with a deep understanding of your fleet operations, ensuring that the solutions we design are tailored to your specific needs. We don’t just build vehicles. We craft holistic fleet solutions by riding alongside drivers, observing operations, and then designing and building with precision.
Our cross-brand collaboration and consultative approach brings innovations to life on the road. By partnership with industry pioneers like us, fleet owners can ensure an experience that’s not only efficient and reliable, but also safer and more rewarding for everyone involved.
FOR MORE INFORMATION
Jacob Farmer is president of Specialty Vehicles at The Shyft Group, a leading last mile and specialty vehicle manufacturer, comprised of nine go-to-market brands. Find out more at theshyftgroup.com.
