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Friday, July 07, 2023

Heavy Truck Sales Up 15% Year-over-year in June

by Calculated Risk on 7/07/2023 01:31:00 PM

The BEA released their estimate of vehicle sales for June yesterday.

This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the June 2023 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 570 thousand SAAR in April 2019.

Heavy Truck Sales Click on graph for larger image.

Note: "Heavy trucks - trucks more than 14,000 pounds gross vehicle weight."

Heavy truck sales declined sharply at the beginning of the pandemic, falling to a low of 308 thousand SAAR in May 2020.  

Heavy truck sales were at 547 thousand SAAR in June, down from 566 thousand in May, and up 15% from 475 thousand SAAR in June 2022.  

Usually, heavy truck sales decline sharply prior to a recession.   Sales were strong in June.