Bookmark and Share

Class 4-8 Trucks Surge in Demand

As per reports from ACT Research, preliminary demands for class 4-8 trucks have been extremely promising in the past 2-3 months. While sales figures for class-8 trucks crossed the mark of 40,000 units, those for medium-duty trucks also surged up to 26,400 units in a single month of June.

The Most Interesting Sales Trends:

  • It is quite intriguing to note that June net orders for class-8 have undergone a sharp increase of nearly 133% in a year. Similarly, net orders for the month of May were 125% higher than the last year's figures.
  • Despite being a weak order month, the seasonally adjusted sales volumes in June were impressive. So, there's a lot to look forward in this market.
  • In June 2018, the total order volume of class-8 trucks was 492000, and they were booked at the seasonally adjusted yearly rates.
  • It comes as no surprise that overall sales of heavy-duty trucks have been impressively high through the first quarter of the current year and the same trend seems to continue to the second quarter as well.
  • The growing demands in rental and lease markets are considered to be a major contributor to the growth in truck sales. In fact, this market frenzy isn't restrained to one domain only. Rather, trailer industry also performed exceptionally well over these months. The increased freight demands, ELD conversion, and shortage of drivers have triggered the sales of trailers in the last 3-4 months.

With growing demands for heavy-duty and medium-duty trucks, there has been a consistent pressure on the production chain. Despite these robust growth signs, there have been serious constraints.

However, manufacturers are battling it with increased slot and build schedules. In this regard, leasing option and used trucks add more flexibility in the equipment replacement for truckers and it helps in tackling the market shortages with efficiency.