Preliminary Class 8 same dealer used truck retail sales plunged 17% month over month in November, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“The drop was in line with historical seasonality, which called for a 16.5% M/M decrease. Auction sales saw an even bigger drop, shedding 33% relative to a strong October. Wholesale activity saw its first decline in four months in November, contracting 20% M/M,” Steve Tam, vice president at ACT Research, said. “Total reported November preliminary sales came in 24% lower than October. It seems pretty clear the used truck market is reflecting a soft freight environment. Load and truck postings also declined in the spot freight markets from October to November.”
Tam added, “The preliminary average retail price (same dealer sales) of used Class 8 trucks fell m/m for a fourth consecutive month in November, dipping 2.0% M/M to $53,598. Positively, November’s drop paled in comparison to seasonal expectations, which called for a 15% reduction.”
