According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks by ACT Research, same dealer used Class 8 retail truck sales wilted sequentially, but made progress longer term.
“The 13% drop was directionally consistent with, but greater than, the expected 3% seasonal slide. May is the third weakest sales month of the year, running 5% below average,” Steve Tam, vice president at ACT Research, said. “The auction and wholesale markets were mixed in May. Auction volumes surged 79% M/M, not unusual as the segment recovers from its first month of the quarter hangover. Wholesale dealer activity shriveled 14% M/M. Combined, May’s total market same dealer sales volumes rose 11% M/M.”
Tam concluded, “The Class 8 average retail sale price slipped 0.7% M/M in May, to $59,422. Longer term, prices were 5.2% higher Y/Y. While some carriers are leaving the business, there appears to be a steady stream of those willing to throw their hats into the ring. These willing participants account for the increase in used truck sales volumes the market is currently enjoying.”
