Medium-Duty Truck Sales Increase 7.7% in September
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Retail sales of medium-duty trucks rose 7.7% in September compared with the year earlier period, according to data from Wards Intelligence.
Total retail truck sales in Classes 4-7 climbed to 20,216 from 18,763 units, in the sixth consecutive monthly year-over-year increase and seventh so far in 2023. The most recent month, however, saw a 12.2% decrease compared with the 23,026 units sold in August.
September was generally a bit of a surprise, said ACT Research Vice President Steve Tam, who had expected a smaller decrease compared with August after strong production figures in the eighth month of the year.
Each class of medium-duty truck saw a rise in sales compared with the year-ago period. Class 7 witnessed the biggest percentage increase at 15.7% to 4,581 units from 3,959. Class 6 saw an 11.6% rise to 6,450 from 5,782 units. Classes 4-5 collectively saw a 1.8% increase in sales year-over-year to 9,185 from 9,022 units.
Daimler Truck North America’s Freightliner brand sold the most Class 7 trucks at 1,814 units. Ford sold the highest number of Class 6 trucks at 1,774. Ford also sold the most in Class 5 at 3,634 units. Isuzu sold the most Class 4 trucks at 984.
In the first nine months of 2023, a total of 178,907 trucks were sold for Classes 4-7, a 10% increase compared with 162,617 in the year-ago period.
Sales so far in 2023 are tracking ahead of expectations, said Tam, who said ACT forecasts put retail sales in the medium-duty sector 9% higher than in 2022 through the first nine months of the year.
One factor tossing a substantial variable at sales expectations in the final quarter of the year is the United Auto Workers strikes across five Mack Truck sites and at Ford’s Kentucky Truck Plant. As Tam told Transport Topics: “If you don’t build it, you can’t sell it.”
The UAW represents Mack workers in Pennsylvania, Maryland and Florida, including the Lehigh Valley Operations and Hagerstown Powertrain Operations. Union leaders previously reached a tentative agreement with the company on Oct. 1, but 73% of members voted against the five-year deal. The employees walked off the job Oct. 9.
Mack Trucks sold 293 Class 6 trucks in September and 159 Class 7 trucks.
The Ford industrial action began Oct. 11. The plant produces F-250 and F-350 full-size “Super Duty” pickup trucks. Deutsche Bank analysts estimate daily F-250 and F-350 production at the Kentucky Truck Plant averages 729 vehicles.
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