Medium-duty truck sales growth has been stable for a while now, according to FTR. Will it remain that way?
FTR’s Jonathan Starks delivered the positives and negatives of the medium-duty truck market during the company’s virtual conference.
There is still pent-up demand for medium-duty trucks, Starks said, as the industry continues to catch up from the last recession. Also working to bolster demand is an economy that is growing, albeit slowly. Housing and other construction is helping fuel growth for medium trucks.
However, sales still remain below normal replacement levels, Starks said. In addition, most sectors of the economy are barely growing, and are either stable or beginning to slow.
Starks believes the customers will buy approximately 58,300 Class 4 and 5 trucks in 2016, increasing to 63,700 in 2017. They bought 54,900 in 2015.
Class 6 and 7 are expected to edge up slightly from the 134,000 sold last year and reach 136,000 this year. Sales will continue their slow growth in 2017, reaching 137,600.
