September marks all-time high for Class 8 retail sales
BLOOMINGTON, Ind. – September set an all-time record for Class 8 retail truck sales, according to FTR.
U.S. Class 8 retail sales totaled 28,200 units, up 4% from the previous record in December 2006. Sales were up 20% from August, and 20% year-over-year.
“September should be considered a fluke as fleets delayed taking some deliveries in the summer and the sales all closed in September,” said Don Ake, vice-president, commercial vehicles. “Still, it was great sales month for Class 8 trucks. It will be a much tighter market going forward as fleet expansion slows due to the weaker freight environment. The market is slipping back to replacement level, but fleets are still profitable, so this should stabilize sales.”
Despite slowing freight growth, some fleets are still expanding, FTR concluded. Sales were also boosted by fleets taking delivery of orders that had been sitting on OEM lots during the summer.
FTR said another reason for the spike could be that some OEMs are offering discounts to reduce record-high inventories.
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