by Calculated Risk on 12/06/2023 03:45:00 PM
Wednesday, December 06, 2023
Heavy Truck Sales Increased in November, up 5% YoY
The BEA released their estimate of vehicle sales for November.
This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the November 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 record high of 570 thousand SAAR in April 2019.
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 540 thousand SAAR in November, up from 475 thousand in October, and mostly up 4.9% from 515 thousand SAAR in November 2022.
Usually, heavy truck sales decline sharply prior to a recession. Heavy truck sales are solid.
As I noted last Friday, Vehicles Sales decrease to 15.32 million SAAR in November; Up 7% YoY