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2018 Marks the Strongest Heavy Truck Sales Since 2006

For the first quarter of 2018 heavy-duty truck sales were their highest in over a decade. According to Trucks.com, the industry hasn't seen this high of sales since 2006. Strong online sales, a boom in new housing, and changes in the tax law have been the major driving factor behind the growth in the industry. This has led to companies hiring more drivers and those driver's need trucks to drive. 

Class 8 truck sales totaled around 133,900 for the first quarter of the year, which is a whopping 98.4 percent gain when compared with last year, according to FTR Transportation Intelligence. In fact, the Class 8 weight segment marked the highest number of truck orders for any quarter the organization has tracked.

ACT Research, a trucking consulting firm, placed an estimate for trucking orders of Class 8 heavy trucks at 136,307 for the first quarter of 2018, according to Trucks.com. In 2006, ACT Research reported over 140,000 Class 8 truck sales. 

Don Ake, vice president of commercial vehicles of FTR Transportation Intelligence, noted that motor carriers are placing large orders so that truckmaker's manufacturing slots are locked down. "Fleets need more trucks to handle huge freight demand and continue to order trucks at record-setting rates," Ake told Trucks.com. 

Class 8 trucks aren't the only part of the industry doing well either. Class 5-7 trucks are doing well, too.  Kenny Vieth, president and senior analyst of ACT Research, told Trucks.com that over 84,700 orders for Class 5-7 trucks were made in the first quarter. That's a 20.4 percent increase over the same period of time in 2017. 

Overall orders for 2018 are expected to exceed 2017 orders. Class 8 truck orders should be over 9 percent higher than the previous year. Projections for Class 8 heavy truck orders for the year are about 325,000. The forecast for the industry is good through 2019.

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