At IAA Transportation 2024, JOST, a global leader in trailer and truck components, showcased its latest innovations and solutions, reflecting its continued strong performance in Asia. In a conversation with Waltraud Matzenberger, President of JOST Asia, and Pradeep G.S., MD & CEO of JOST India, the company shared its insights on the evolving markets of China, India, and the broader Asia region. Both leaders discussed their strategies, challenges, and the future of JOST’s operations in these key markets.
Strong Growth in Asia: 2024 and Beyond
Waltraud Matzenberger, President of JOST Asia, began by discussing the company’s optimistic outlook for the coming years. “From a JOST perspective, we are performing well in 2024, and we expect a similar trend into 2025. The China market, while historically the largest, has seen a bit of a slowdown, but we still see strong potential in exports, especially within the trailer sector,” she shared.
The company’s continued growth in the region is evident, with Matzenberger explaining how different markets in Asia are performing. “The Indian market remains stable despite a slight slowdown. We are satisfied with the performance there, and it offers us the chance to plan for the future with a steady production level. Meanwhile, Indonesia, driven by the coal and mining industries, continues to grow, and we see a lot of potential in the region.”
Insights on JOST’s Performance in India
As JOST continues to strengthen its position in India, Pradeep G.S., MD & CEO of JOST India, provided an update on the company’s performance in the country. “2024 was predicted to see a dip due to elections and other factors, but we have managed to adapt and refine our strategies. We are now well-prepared for a strong 2025,” he said.
He highlighted how JOST’s strategy has evolved over the past year, particularly in engaging with customers and OEMs. “Engaging with fleet operators and understanding their needs has allowed us to refine our product offerings. This continuous engagement has been key to adapting to market demands and ensuring our products meet customer expectations,” Pradeep explained.
The Changing Landscape of China
When discussing China, Matzenberger noted that the market dynamics have shifted. “In 2021, China was experiencing phenomenal growth, driven largely by government regulations pushing for cleaner emissions and vehicle standards. However, the market has plateaued recently, and we expect a total tractor-trailer market in China of around 420 to 430,000 as an average in the coming years,” she said.
Despite the slowdown, Matzenberger emphasized the ongoing opportunities in China. “Even though we’ve seen a decrease in overall demand, the Chinese market is still large, and there are opportunities for us, especially in the tractor market, where we remain the market leader with around 40% of the share. Our product range has expanded significantly, which has helped us meet the diverse needs of the market,” she added.
Strategic Developments at JOST’s Chennai Plant
Turning to India, Pradeep provided insights into the progress at JOST’s Chennai facility. “The Chennai plant has ramped up production at an impressive pace, and we’re already planning to launch additional models. The Swedish design expertise combined with our local team’s dedication has made this possible,” he said.
Moreover, he elaborated on the expansion of the product range at JOST’s other Indian facilities. “At our Jamshedpur plant, we’ve completed the product range for trailer axles. We are now ready to launch new lightweight leaf spring and air suspensions and 13-16 ton axles, responding to the growing demand in the market,” Pradeep added.
Navigating Geopolitical Challenges
In the current geopolitical climate, Matzenberger discussed how JOST remains focused on its customer-first approach. “While we cannot ignore the political challenges, especially between China and the West, we prioritize serving our international customers. Our presence in China helps us engage with customers across Asia, and we continue to find synergies within the region,” she noted.
She also acknowledged the impact of global tensions but emphasized JOST’s commitment to its customer base. “We do business, not politics. Our customers are asking for reliable, high-quality products, and that’s our focus. We have been actively engaged in markets like Indonesia and Malaysia, which continue to show promise,” Matzenberger added.
The Growing Potential of India
Pradeep expressed confidence in India’s long-term growth potential. “India is an emerging hub for us, driven by its large population and rapidly growing urbanization. We see increasing demand for higher-tonnage vehicles and the modernization of the tractor-trailer segment. The homologation codes and regulations are evolving, making it an ideal environment for JOST to expand our offerings,” he said.
He continued, “India also plays a critical role as a sourcing hub for JOST. The skilled workforce and competitive advantages in India make it an attractive option for global sourcing and manufacturing. We expect India to continue growing as a strategic location for both production and R&D.”
Innovations and Advancements in Trailer Technology
Both Matzenberger and Pradeep discussed the exciting developments in the trailer market. Pradeep expressed his surprise and satisfaction with the advancements made by OEMs in the trailer segment. “The technological developments we are seeing in the trailer sector are remarkable. OEMs are pushing the bar with higher-tonnage combinations and are increasingly focusing on fuel economy and weight reduction,” he stated.
JOST has responded to these demands by expanding its product range. “We are now providing products that help reduce trailer weight, improve fuel efficiency, and extend tire life. These developments will be crucial for the future of the trailer industry, and we are excited to showcase what we can offer both now and in the future,” Pradeep added.
Aftermarket Service: A Key Element of JOST’s Strategy
Both leaders highlighted the importance of JOST’s aftermarket service network in India. Pradeep explained, “Having a strong aftermarket network has always been part of our strategy. By offering excellent service and spare parts availability, we are ensuring that our products continue to perform optimally over their lifespan. We also run service campaigns regularly to raise awareness about the importance of preventive maintenance.”
Matzenberger added, “We are continually upgrading our service network in India. Our goal is to ensure that customers have access to reliable parts and services to maximize the lifespan and performance of our products. This is a key part of our approach to customer satisfaction and the total cost of ownership.”
Looking Ahead: JOST’s Vision for the Future
Reflecting on the future, Matzenberger expressed her excitement about JOST’s growth prospects in Asia. “Asia is a major growth region for us, and two-thirds of JOST’s growth in 2023 came from the region. We will continue to face challenges, but we are confident that we will manage them effectively,” she concluded.
Pradeep echoed this sentiment, saying, “It’s exciting to see our potential becoming a reality. We are contributing to the global JOST network, bringing Indian innovation to the forefront and playing a key role in shaping the future of trailer solutions.”
