Largest Truck Dealer Foresees Cautious Fleet Owners in H2/12
Rush Enterprises, the largest truck dealer in North America, said its second quarter Class 8 retail sales, which accounted for 5.3% of the U.S. market, increased by 19% over the same time period in 2011. “Our performance in Class 8 truck retail sales this quarter was primarily driven by strong activity in the energy sector and replacement truck deliveries to larger fleets,” said CEO Rusty Rush.
“Used truck sales and residual values remained steady throughout the quarter and are expected to continue at current levels for the remainder of 2012,” Rush added.
In a commentary on the remainder of 2012, Rush said, “We expect U.S. Class 8 retail sales will reach approximately 180,000 to 185,000 units by year end. Reduced order intake during the past several months could result in as much as a 20% decrease in new truck deliveries during the second half of 2012. Although business for most of our customers remains steady, we believe that fleet decision makers will exercise caution in making new truck replacement purchases during the second half of the year due to current political and fiscal uncertainty. We expect that as these uncertainties subside, order intake should increase by year end.”
Commenting on 2013, Rush said, “Current industry forecasts indicate an increase in 2013 U. S. Class 8 retail sales to 227,000 units. This is driven primarily by the need for replacement trucks to offset the age of fleet vehicles and should result in an improved truck sales market next year.” Industry experts also forecast U. S. Class 4-7 retail sales to be at 160,000 units in 2012 and 184,000 units in 2013.
To read the Rush Enterprises news release click here.