Preliminary Class 8 same dealer used truck retail sales held steady in October, up 0.3% month over month, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“The market fell short of historical seasonality, which called for a 2.8% M/M increase. Auction sales, uncharacteristically strong in October, bucked their typical first month of the quarter drop to expand by 19% M/M. Wholesale transactions expanded, gaining 10% M/M. Total reported October preliminary sales were up 9.5% from September,” Steve Tam, vice president at ACT Research, said. “The preliminary average retail price (same dealer sales) of used Class 8 trucks softened M/M for a third consecutive month in October, shedding 3.5% M/M to $54,160. October’s decay was contrary to seasonal expectations, which called for a 1.8% bump.”
