March Truck Sales Surge 25.6%
Transport Topics reported that new Class 8 retail truck sales rose 25.6% in March from a year earlier, the biggest monthly percentage gain since July 2012.
The 16,452 vehicles sold was the third-highest total in the past 15 months and pushed original equipment manufacturers’ total for the first quarter to 44,547 — almost 15% higher than last year’s total of 38,805, Transport Topics reported.
The rising sales come on the heels of four strong months of orders and a recent projection by ACT Research that this year’s sales will top 2013 by double digits.
“Our customers are buying equipment across the board — not just for replacement but also for a little bit of growth,” said Kyle Treadway, president of Salt Lake City-based truck dealership Kenworth Sales.
Navistar International posted a 40.3% gain in March to 2,690 trucks, moving to No. 2 in market share, up from third in February, according to Transport Topics.
“Another strong retail sales month indicates the market has the potential to outperform current industry expectations,” said Bill Kozek, Navistar’s president of North America truck and parts. “While our full-year [industrywide] Class 8 forecast of 220,000 to 230,000 retail sales remains unchanged, the past five months have been encouraging,” he said. “Replacement demand also continues to increase, indicating growing confidence in the economy.”
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