Who won and who lost when it came to 2020 Quarter 2 truck sales? You’ll have to watch the video to find out! All we will say is these 2020 truck sales are sure interesting.
What’s our big take away? Truck sales will likely rebound for Q3 and Q4 with consumers being treated to a ton of great incentives and low interest rates. We also expect to see a big boost from Ford with its new F150 and Ram’s TRX should boost some volume.
However, the big change will be once the factories can fill dealer lots and IF they can keep running without COVID-19 issues. Dealers have been publicly demanding more trucks as they are running out of stock.
While COVID-19 will go down as a major disruptor to the U.S. economy and the country as a whole, it does seem like truck sales haven’t slowed down. Earlier this year, several news outlets reported truck sales had surpassed car sales for the first time in anyone’s recollection. This is a BIG shift from the small, cheap, fuel-efficient Japanese imports from the 1980s until now with consumers demanding more capability and versatility over cheap and MPG.
In the end, the quarterly truck sales results are typically the best measure we have of what consumers think of the latest offerings from the truck makers. While COVID-19 certainly derailed sales and skewed the numbers, we think, by the end of the year, these numbers will come back to normal and we can finally see what consumers think of the pickups. We guess they will think very highly of them and there will be some amazing quarter over quarter gains as automakers bring customers back. That is. If the COVID-19 pandemic will relent enough to allow our economy to breath again.
What do you think? Any surprises from the video?