April preliminary Class 8 same dealer used truck retail sales pulled back from March’s strong performance, down 5.4% 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 decline was not as large as expected based on historical seasonality, which called for an 11% M/M decrease. Auction sales dropped by 52%, in typical first month of the quarter fashion. The wholesale segment enjoyed the only improvement in April, growing 14% M/M,” Steve Tam, vice president at ACT Research, said. “Total reported preliminary sales finished April down 27% M/M. Given outperformance relative to seasonality, it appears as though freight growth continues to entice used equipment buyers. The preliminary average retail price (same dealer sales) of used Class 8 trucks grew nicely in April, gaining 5.4% M/M to hit $57,148. Pricing also beat seasonal expectations, which called for an almost 11% decline.”
