Class 8 market to drop to 215,000 units in 2017: Volvo

by Today's Trucking Staff

LAURENS, SC – Volvo Trucks North America is expecting a further drop in Class 8 truck sales next year, adjusting its North American forecast down to 215,000 units for 2017. That compares to a 2016 forecast of 240,000 trucks.

“We believe it’s going to continue to decline a bit going into next year,” said Magnus Koeck, vice president – marketing and brand management, during a briefing to industry media.

How far things have dropped. “Last year was fantastic,” he said of the roughly 300,000 units that were sold in North America. “We can easily get used to a year like last year.”

The heavy demand actually contributed to the supply challenges of today. When the market came to a sudden halt in June and July last year, manufacturers continued to build, loading trucks into dealership yards, Koeck said.

“A lot of inventory is out there,” he added. “We are seeing that coming down, but they will be out there for at least this year and maybe a little bit next year.”

Much of the drop can be traced to the long-haul market. That business has dropped 35 to 40% year over year, while regional-hauling business is down 32%. As of August, year-to-date sales to long-haul buyers accounted for 46% of the business, while regional haulers accounted for 27.7%, he said. Last year the long-haul market accounted for 50.4%, with regional haulers taking on 29%.

Construction-related truck sales has been the bright spot, up 3-4% year over year.

Volvo expects the regional-hauling business to expand to 35% of the truck market, thanks in part to the expansion of the Panama Canal and its influence on freight volumes along the eastern seaboard, he said.


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