Counter to historical seasonality, preliminary Class 8 same dealer used truck retail sales volumes slowed in June (-5.3%), according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“A lack of traction in freight and freight rate improvement, coupled with still-high interest rates, remains the largest hurdles to better used truck sales performance. Seasonality called for an increase of more than 5% M/M,” Steve Tam, vice president at ACT Research, said. “In typical fashion, auction volumes surged in the final month of the quarter, jumping 36% M/M in June. Wholesale activity pulled back, shedding 20% M/M. Looking ahead, July sales are typically lackluster, with buyers likely to re-engage in a meaningful way in August.”
