Sales of Class 8 trucks through August maintained the torrid pace that places the sales year tens of thousands of units ahead of the record levels of 1998, and there is no sign of letup.
“Demand for heavy-duty equipment is nothing short of phenomenal,” said Peter Toja, president of Economic Planning Associates, which analyzes business and economic trends for trucking.
Through the first eight months of the year, 171,317 big tractors were sold, a 28.4% increase over the 133,464 sold during the same period in 1998, according to Ward’s Communications, an analysis firm in Southfield, Mich. Sales totaled 21,938 in August, 26.2% more than the same month in 1998.
“Even the latest Fed hike in interest rates on Aug. 24 was brushed aside,” said Toja, noting a “massive order” for Freightliner trucks by J.B. Hunt (8-30, p. 1).
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