by Bill McBride on 8/08/2016 02:27:00 PM
Monday, August 08, 2016
The following graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the July 2016 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 486 thousand SAAR in November 2015.
Heavy truck sales have since declined - due to the weakness in the oil sector - and were at 399 thousand SAAR in July.
Even with the recent oil related decline, heavy truck sales are still above the average (and median) of the last 20 years.
Click on graph for larger image.