ACT Research: Used Class 8 Retail Sales Volumes Fall M/M and Y/Y in October

According to the latest release of ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks report, used Class 8 retail volumes (same dealer sales) were 6% lower month over month in October. Longer term, volumes were down 20% year over year but up 13% year to date. Average prices were 3% higher compared with September, 54% higher than in October 2020 and 36% greater year to date. Average miles were 1% greater month over month and up 4% year over year, while average age increased 2% from September and 6% compared with October 2020.

“Used Class 8 same dealer retail sales volumes struggled in October, returning to sequential decline following two months of gains. The softness contradicted seasonal expectations, which called for an equivalent gain,” Steve Tam, vice president at ACT Research, said. “However, lackluster new truck sales and the lack of used truck inventory have conspired for most of 2021 to foil historical seasonality.”

Looking at the different sales channels for used Class 8 vehicles, Tam said, “Near-term channel results were also unfavorable for both the auction and wholesale outlets. All three markets also experienced lower volumes compared to October 2020. Through the first 10 months of the year, only the retail segment has improved.

“Earlier comments regarding seasonality notwithstanding, history suggests the tumultuousness will be in play through the end of the year. Typically, November is the second weakest retail sales month of the year, with December ending the year roughly 6% above average.”

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