by Bill McBride on 8/24/2014 11:33:00 AM
Sunday, August 24, 2014
Click on graph for larger image.
This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is current estimated sales rate.
Heavy truck sales really collapsed during the recession, falling to a low of 181 thousand in April 2009 on a seasonally adjusted annual rate (SAAR). Since then sales have more than doubled and hit 413 thousand (SAAR) in July 2014 (about the same is in April of this year) .
The level in April was the highest level since early 2007 (over 7 years ago). Sales are now above the average (and median) of the last 20 years - but still below the peaks - so I expect some more growth in sales.