July preliminary Class 8 same dealer used truck retail sales volumes recorded a solid gain in July, up 5.5% 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 market continued to outperform historical seasonality, which called for a scant 0.5% M/M increase. Piling on to June’s out of sync performance, auctions pulled back 27% M/M in July. Wholesale transactions withered by a similar margin, moving 26% fewer units in July,” Steve Tam, vice president at ACT Research, said. “Total reported July preliminary sales were down 10%. Spot freight market capacity tightened for a fifth consecutive month in July. At the same time, freight growth has failed to materialize. Declining freight may be one catalyst for lower sales.”
