AMD / MSBMA / NTEA Upfitters Conference Recap

October 14-16, AMD / MSBMA / NTEA Upfitters Conference – Sandusky, Ohio, attended by Joe Verdini and Tom Vrydaghs.

The purpose of attending is twofold: first, to engage with key customers from AMD/MSBMA and understand their concerns and trends. second, to learn from chassis manufacturers at NTEA and establish valuable contacts.

The NTEA’s economist gave an overall market outlook. Those insights include:

GDP – There is no imminent recession; slow growth continues with ongoing labor and housing shortages. Global uncertainties remain.

Labor Market—The average retirement age is 63-64; 5 million people are projected to leave the workforce in 2024-2025, and the unemployment rate is 4% through 2033.

Housing Starts - Anticipated a 5-12% increase in 2025, but labor shortages will limit growth.

Additional Insights

Freight companies have excess cash due to low diesel prices. Raw material prices are expected to remain stable, although aluminum may be influenced by Russian factors.
Consumers are confused about EV technologies. OEMs must continue production due to fuel economy requirements.

Customer Meetings

Attendance at the event was lower than usual, with many OEMs absent. We were able to engage with REV, Osage, and Braun on various business discussions and ongoing projects, including lifts and door seals for REV Osage (the only REV division we have yet to set up with a door seal). We also discussed chemical products.

Additionally, we met with Jeff Ostrowsky from Curbell to discuss a potential plexi deal.

Mid-Size Bus Manufacturers Association meeting

This brief meeting covered similar economic updates as the AMD portion, NTEA governance, and OEM chassis discussions.

We met with several key contacts from Forest River Bus to follow up on activities in their new electric transit bus division. Regulatory information can be found at https://www.transit.dot.gov/

We also made a presentation to Mullen Commercial and Bollinger Motors. Both are electric vehicle manufacturers. Mullen has 125 employees and focuses on classes 1-3 commercial electric vehicles, while Bollinger employs 130 with a focus on classes 4-6 electric trucks.