Monday, April 06, 2020

U.S. Heavy Truck Sales down 43% Year-over-year in March

by Calculated Risk on 4/06/2020 01:53:00 PM

The following graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the March 2020 seasonally adjusted annual sales rate (SAAR).

Heavy truck sales really collapsed during the great recession, falling to a low of 180 thousand SAAR in May 2009.  Then heavy truck sales increased to a new all time high of 575 thousand SAAR in September 2019.

Heavy Truck Sales
Click on graph for larger image.

However heavy truck sales started declining late last year due to lower oil prices.

And then heavy truck sales really declined at the end of March due to COVID-19 and the collapse in oil prices.

Heavy truck sales were at 291 thousand SAAR in March, down from 453 thousand SAAR in February, and down 43% from 514 thousand SAAR in March 2019.

Heavy truck sales in April will likely be below the low of 180 thousand SAAR in May 2009, and probably below the record low of 159 thousand SAAR in 1982.