The two primary data collectors for Class 8 truck sales in the United States, ACT Research and FTR differ slightly on their estimates for the month’s sales. Ultimately they can agree on one thing: it is a large increase from the same time last year.
ACT has their estimate set at 22,900 trucks sold in the fifth month of 2021; FTR states the number is slightly higher at 23,600 trucks sold. For both, the results are a drop from April, but more than triple the number for May 2020, when the coronavirus pandemic was still in some of its worst days.
FTR states that the last rolling 12 months total sales hover around 420,000.
Further following in each other’s footsteps, both ACT and FTR commented on the numbers saying that the decrease in sales is not from decreased demand in truck purchases, but shortages in the supply chain including semiconductors and rubber.
If what ACT Research and FTR both say are true, demand outpacing supply means that prices for trucks in the foreseeable future are almost assured to rise. This potential future is all the more likely as the costs for rarer components rise and the final product has a larger price tag to reflect that.
Is it better to buy now before the component shortage catches up with the industry, we are not able to say for sure. The trucking industry has been booming since last June, hopefully you have been enjoying the ride!
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ABOUT TOPMARK FUNDING
TopMark Funding is a top-rated semi-truck financing and trailer financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
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