Class 8 Truck Sales Drop

U.S. sales of new Class 8 trucks fell 5.8% in November compared to October, a typical trend during Thanksgiving. However, sales rose 3.3% from November 2023, defying expectations of a weakening market. Orders for future delivery of trucks and trailers also increased, while used truck prices edged higher.

November Sales and Orders

Manufacturers reported 19,658 new Class 8 trucks sold in November, bringing the year-to-date total to 217,966, down 10.3% from 2023. Despite the decline, North American buyers ordered 37,200 new trucks in November, surprising analysts. ACT Research’s Kenny Vieth noted that private fleets, concerned about supply chain disruptions, drove much of this demand. Vocational trucks played a key role, with 8,600 orders reflecting preparation for upcoming EPA emissions standards.

Trailer Orders Improve

New trailer orders dipped 4% year-over-year but jumped 23% from October. For the first time in nearly a year, orders exceeded production by 6,700 units, signaling recovery despite a 34% year-to-date decline.

Used Truck Market Sees Modest Gains

Used Class 8 truck sales volumes dipped slightly in November, defying a typical seasonal decline of 18%. Prices rose compared to October, indicating potential renewed interest as new truck costs increase.

Freight Rates Expected to Climb

After two years of oversupply driving rates down, the truckload market appears to be balancing. Larger carriers have cut fleets, and many small carriers have exited the market. ACT’s Tim Denoyer predicts tightening supply and higher freight rates in the coming months, though a major boom is unlikely.

OEM Performance Highlights

• Freightliner led with 7,550 units sold in November and 36.6% market share for the year.

• Western Star continued its strong growth, with a 38% year-over-year sales increase.

• Kenworth and Peterbilt gained market share despite slight declines in sales.

• Volvo and Mack saw sales drop in November, holding steady in market share.

• International posted a 3.8% monthly sales increase but remains 31% down year-over-year.

Looking Ahead

The 2025 truck market will likely be influenced by pre-buying ahead of 2027 emissions regulations, rising freight rates, and falling interest rates. These factors could drive renewed growth in both new and used truck sales.