Sales of heavy vehicles are stable in June

on Estimated risk per 07/05/2022 10:30:00

This morning, BEA released its estimate for car sales for June.

This graph shows heavy truck sales since 1967 using BEA data. The dotted line is the seasonally adjusted annual sales rate (SAAR) for June 2022.

Heavy truck sales really collapsed during the Great Recession, dropping to a low of 180,000 SAARs in May 2009. Heavy truck sales then rose to a new all-time high of 570,000 SAARs in April 2019.

Sale of heavy trucks Click on the graph to enlarge the image.

Note: “Heavy trucks are trucks over 14,000 pounds GVW.”

Heavy truck sales did decline at the start of the pandemic, dropping to a low of 308,000 SAAR in May 2020.

Heavy truck sales in June were 475,000 SAAR, up from 491,000 in May and slightly up from 476,000 SAAR in June 2021.

Typically, sales of heavy vehicles decline sharply before a recession. Sales in June were solid.