EV Production Scaling and Financial Overview
Type C & D School Bus Industry
1985
2004
2005
2006
2007
2008
Long Term Avg. ('85-'19)
Mean: 31,000
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2003
1993
1994
1995
1996
1997
-Historical Registrations
1998
1999
2000
2001
2002
Industry avg size (pre-COVID) is 31,000 new units annually based on Polk registrations
■ Total fleet of school buses is ~515,000 units and average age is about 10 years
1986
1987
1988
1989
1990
1991
1992
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Number of school age children
☐
Age of existing fleet - most states set 15 years as a replacement target
Average ridership per bus
☐
Funding - primarily from property tax
Industry size is driven by:
FY2023 industry expected to be ~27k units as industry production capacity is still constrained by supplier shortages;
core funding and demand is healthy at pre-pandemic order levels
Source: R.L. Polk New Registrations, based on Type C/D school buses & non-school buses in US/CAN registered thru Dec. 2022
BLUE BIRD
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