As we saw last week, commercial truck sales are on the rise. Specifically, WardsAuto.com reported medium-duty trucks rose 3% in May, reversing a 10% decline in April. And according to a recent article in Transport Topics, sales of medium-duty trucks are currently tracking well ahead of 2014 levels. So what accounts for this, and will we continue to see sales rise? Read on to find out.
The Facts about Medium-Duty Truck Sales
Although growth in the medium-duty truck sector has been more gradual than in the Class 8 market discussed last week, ACT’s Steve Tam asserts that this reflects the broader variety of operators that purchase those trucks. He says that medium-duty vehicles participate directly in every facet of the economy and that the highs and lows of those disparate sectors tend to average out. He estimates that medium-duty production will continue to grow modestly through 2020, continuing to increase roughly 3.5% per year. (more…)