Truck Sales Continue Hot Streak in June 2021
Since at least June 2020, each month of truck sales has been higher than the same month the year prior. We are now entering the anniversary of the “skyrocket” phase of the COVID-19 pandemic, where a delay in demand reared its head, so it is hard to say how long the streak will last. For June 2021, however, this pattern entered its 13th month.
The Numbers
ACT pins the number of orders at 25,700; FTR, 26,700. Assuming the number is in the middle at 26,200, the number is a 60% increase of the average for June 2020 at 15,750 new Class 8 truck orders. Additionally, it is about a 12% increase from May 2021.
“The June order total is very positive because it indicates this order cycle bottomed out at 24,000 orders in May. That is almost double the typical low point,” FTR officials said. The statement contradicts what Don Ake has been saying for the past couple of months, where a component shortage is imminent and sales will suffer–so much for that!
The way things are now, however, trucking companies are already filling up the backlog and making orders for 2022 models.
FTR says the rolling total for new Class 8 trucks in the past 12 months is now 431,000, an increase of 11,000 from the month before.
Conclusion
Assuming the monthly sales hover at around 24,000 for the next few months, September will be the month where we finally see a year-over-year decrease in monthly truck sales. With talks of a component shortage constantly looming over the industry’s head, it is hard to say for sure where the number will stand come the end of July.
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