VTNA experienced a 14.6% decline in Class 8 truck sales year-on-year through May 2024, despite a $400 million expansion and a market share increase in both the U.S. and Canada. The North American Class 8 market is undergoing a correction, with VTNA’s executive Magnus Koeck predicting a recovery post-election despite ongoing economic uncertainties and a tough freight market. PRIMO’s robust network and advanced load-matching capabilities provide stability and efficiency, addressing the pain point of declining orders and tight capacity in the freight market.

• Sales Performance: U.S. Class 8 retail truck sales are running below expectations for 2024, with a 14.6% year-on-year decline in the first five months¹.
• Market Correction: The market is undergoing an expected correction after a high-demand period, with sales projected to total 260,000 to 270,000 vehicles in 2024.
• Private Fleets: Private fleets are performing well and starting pre-buy purchases ahead of new EPA regulations.
• Future Outlook: A market rebound is anticipated by the end of 2024 or early 2025, with significant pre-buy activity expected in 2026 before new regulations take effect in 2027.

Reference: ttnews.com