Preliminary Class 8 same dealer used truck retail sales improved 24% month over month in February, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“The jump was larger than expected based on historical seasonality, which called for a 6% M/M increase. Auction sales improved by an even greater margin (+128%) following their first month of the quarter blues. Wholesale activity also improved, adding 25% M/M,” Steve Tam, vice president at ACT Research, said. “Total reported preliminary sales finished February 54% higher than January. Rather than signaling a surge in demand, the uncharacteristically strong showing seems to indicate a catch-up from weather-related softness in January’s weak showing.”
Tam concluded, “The preliminary average retail price (same dealer sales) of used Class 8 trucks pulled back again in February, slipping 1% M/M to $53,969. Pricing was counter to seasonal expectations, which called for a 6% gain.”
