by Calculated Risk on 11/11/2018 11:47:00 AM
Sunday, November 11, 2018
The following graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the October 2018 seasonally adjusted annual sales rate (SAAR).
Heavy truck sales really collapsed during the great recession, falling to a low of 181 thousand in April and May 2009, on a seasonally adjusted annual rate basis (SAAR). Then sales increased more than 2 1/2 times, and hit 480 thousand SAAR in June 2015.
Heavy truck sales declined again - probably mostly due to the weakness in the oil sector - and bottomed at 366 thousand SAAR in October 2016.
Click on graph for larger image.
With the increase in oil prices over the last year, heavy truck sales increased too.
Heavy truck sales were at 515 thousand SAAR in October, down from the recent peak of 539 thousand SAAR in September, and up from 436 thousand SAAR in October 2017.
With the recent decline oil prices, and softness in housing, heavy truck sales will probably decline over the next few months.