Preliminary Class 8 same dealer used truck retail sales contracted 11% month over month in January, according to the latest preliminary release of the State of the Industry: U.S. Classes3-8 Used Trucks published by ACT Research.
“The drop was larger than expected based on historical seasonality, which called for a 6% M/M decrease. Auction sales saw an even pullback, shriveling 58% from December. Wholesale activity extended decline to a fourth month in January, shedding 12% M/M,” Steve Tam, vice president at ACT Research, said. “Total reported January preliminary sales came in 31% off December’s pace. It seems reasonable to assume the numerous severe winter storms that pummeled much of the country may also have kept buyers out of used truck lots during the month.”
Tam concluded, “The preliminary average retail price (same dealer sales) of used Class 8 trucks also pulled back in January, sliding 3.7% M/M to $54,966. Pricing outperformed seasonal expectations, which called for a 6% drop.”
