by Calculated Risk on 12/04/2024 02:09:00 PM

This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the November 2024 seasonally adjusted annual sales rate (SAAR) of 507 thousand.

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.

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 288 thousand SAAR in May 2020.  

Heavy truck sales were at 507 thousand SAAR in November, up from a revised 463 thousand in October, and up 3.7% from 489 thousand SAAR in November 2023.  

Usually, heavy truck sales decline sharply prior to a recession.  Sales were solid in November, and sales for October were revised up significantly.

As I mentioned yesterday, light vehicle sales increased in November.

The second graph shows light vehicle sales since the BEA started keeping data in 1967.  Vehicle sales were at 16.50 million SAAR in November, up from 16.25 million in October, and up 6.7% from 15.46 million in November 2023.