2024 Class 8 Truck Sales Overview
The U.S. market for new Class 8 trucks concluded 2024 at levels similar to earlier in the year—lower than sales figures from 2022 and 2023 yet approximately 3% above the average sales from the last decade.
December Sales Data
In December 2024, manufacturers reported the sale of 22,383 new trucks, as per Wards Intelligence statistics. This figure reflects a 13.9% increase over November sales but represents a 4.3% decrease (almost 1,000 trucks less) compared to December 2023 sales, which were at 23,390 units.
Sales Declines in 2024
Throughout 2024, only Western Star and Hino saw an increase in Class 8 truck sales compared to 2023. The majority of major manufacturers experienced declines, leading to an industry total of 240,349 trucks sold—down 9.7% from the previous year’s total of 266,271.
Impact of Pre-Orders on December Numbers
Consumers are placing orders for future delivery as well. FTR Transportation Intelligence reported an increase in new Class 8 preliminary orders to 31,900 in December, up 23% from the same period the previous year. Overall truck orders for 2024 rose 11% compared to the last year.
Analysts’ Insights
“Most OEMs exceeded seasonal expectations as net orders remained elevated for a normally slower order month,” stated Dan Moyer, FTR’s senior analyst regarding commercial vehicles. He observed no significant difference in order patterns between vocational and on-highway segments this month.
Used Class 8 Truck Market Performance
The used Class 8 truck market concluded 2024 robustly, experiencing a 23% increase in units sold in December, according to ACT Research. The average price of used trucks rose by 4% in December, but saw a 4% decrease for the entirety of 2024. Steve Tam, ACT vice president, described the year’s progress as measured, despite seasonal expectations of only an 8% month-over-month increase.
Potential Tariffs and Future Implications
An imminent concern is the potential tariffs proposed by President Trump, as noted by Moyer. He expressed, “The ongoing discussions regarding tariffs on imports from Mexico, Canada, and China are worth monitoring, given that over 40% of Class 8 trucks sold in the U.S. are manufactured in Mexico.” The introduction of such tariffs could severely disrupt supply chains and elevate production costs, further complicating the forthcoming regulatory changes. As carriers anticipate possible increases in freight rates, they hope that rising equipment costs won’t significantly affect profitability.
