Heavy Truck Sales Increased in July

This graph shows heavy truck sales since 1967 using data from the BEA. The dashed line is the July 2024 seasonally adjusted annual sales rate (SAAR) of 485 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.

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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 485 thousand SAAR in July, up from 452 thousand in June, and down 3.8% from 504 thousand SAAR in July 2023.  

Usually, heavy truck sales decline sharply prior to a recession.   Heavy truck sales are solid.