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By 2022, Low-Cost Truck Sales will Reach 1.3 Million Units
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The TRIAD is expected to experience increasing demand for low-cost trucks due to the struggling economy. Proliferation of low-cost Chinese and Indian brands is likely in these markets in the medium-duty truck segment. Higher penetration of low-cost brands from China and India is likely in Next 11, Africa, and South America due to similar market conditions and customer preferences. Rising affluence in China and India is expected to increase demand for better-quality trucks rather than low-cost trucks.
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