May preliminary Class 8 same dealer used truck retail sales could not keep pace with April’s activity, down 13% 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 larger than expected based on historical seasonality, which called for a 3% M/M decrease. Auction sales surged 79%, directionally consistent with, but more than suggested by, historical expectations. The wholesale segment mirrored retail softness, giving up 19% M/M. However, YTD retail sales were down just 0.7%, with total sales increasing 2.9% YTD,” Steve Tam, vice president at ACT Research, said. “Total reported preliminary sales finished May up 9.4% m/m. The fact that the total market is in sync with seasonal expectations is a welcome testament to the long-awaited balance and stability of the current market.”
Tam concluded, “The preliminary average retail price (same dealer sales) of used Class 8 trucks was steady in May, slipping a narrow 0.6% M/M to land at $59,601. Pricing easily defeated seasonal expectations, which called for more than a 5% decline.”
