Heavy Trucks Will Carry The Load As Freight Hits Record Highs

BMI View: Medium and heavy duty truck demand will be driven by road freight growth of 5.1% in 2014 and average annual growth of 5.9% over the 2015-18 period. Truck sales will grow 5.3% in 2014 and average 3.7% over 2015-18 as consumers buy in advance of new emission standards.

In line with our view that strength in the freight transport sector will drive growth in demand for medium and heavy trucks in 2014, truck sales posted their best results for May since 2006 as freight levels also achieved new highs. We forecast total medium and heavy truck sales to grow 5.3% to 370,379 units in 2014, pushing the market closer to the 400,000 unit mark last seen in 2005.

Total medium and heavy truck sales grew 5.6% year-on-year (y-o-y) in May, marking the ninth consecutive month of growth. For the first five months, total sales were up 12.6% y-o-y, led by the heaviest trucks of Class 8 with growth of 12.1% y-o-y. This aligns with growth in truck tonnage, which according to the American Trucking Association (ATA), is up 2.9% y-o-y for 5M14.

Freight Sector Driving Truck Sales Growth
US Heavy Truck Sales And Road Freight Growth

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This article is tagged to:
Sector: Autos, Freight Transport
Geography: United States

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