Following a better-than-expected July, August’s preliminary Class 8 same dealer used truck retail sales volume growth (+1.7%) lagged expectations, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“Stubbornly persistent softness in spot freight and freight rates coupled with still high but improving inflation and interest rates, have failed to act as barriers to entry or dissuade truck buyers. Seasonality called for an increase of just over 9% M/M,” Steve Tam, vice president at ACT Research, said. “Auction activity improved 21% from July, as did wholesale transactions, up 24%. Altogether, sales rose 12% from July.”
