June preliminary Class 8 same dealer used truck retail sales picked up 11% M/M in June, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“The gain was larger than expected based on historical seasonality, which called for a 2% M/M increase. Auction sales sank 22%, uncharacteristic compared to the normal 35% end-of-quarter surge,” Steve Tam, vice president at ACT Research, said. “The wholesale segment claimed the middle ground, shedding 12% M/M. Total reported preliminary sales finished May down 6.6% M/M. The significant disconnect in the auction market bears watching; the concern being that it could be a bellwether for the broader industry.”
Tam concluded, “The preliminary average retail price (same dealer sales) of used Class 8 trucks made great strides in June, adding 5.0% M/M to top $61,000. Pricing once again easily defeated seasonal expectations, which called for no change.”
