by Bill McBride on 1/12/2016 12:55:00 PM
Tuesday, January 12, 2016
The following graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the December 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 increased more than 2 1/2 times, and hit 492 thousand SAAR in November 2015 - even with weakness in the oil sector.
Heavy truck sales declined in December to 440 thousand SAAR.
The level in November 2015 was the highest level since December 2006 (9 years ago). Sales have been above 400 thousand SAAR for 18 consecutive months, are now above the average (and median) of the last 20 years.
Click on graph for larger image.