by Bill McBride on 7/08/2015 04:30:00 PM
Wednesday, July 08, 2015
Click on graph for larger image.
This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the June 2015 seasonally adjusted annual sales rate (SAAR).
Heavy truck sales really collapsed during the recession, falling to a low of 181 thousand in April 2009 on a seasonally adjusted annual rate basis (SAAR). Since then sales have more than doubled and hit 450 thousand SAAR in June 2015 - even with weakness in the oil sector.
The level in June 2015 was the highest level since February 2007 (over 7 years ago). Sales have been above 400 thousand SAAR for 12 consecutive months, are now above the average (and median) of the last 20 years.