Somewhat unexpectedly, preliminary used Class 8 same dealer retail sales volumes surged 38% month over month in July, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

“Despite slow freight and freight rate improvement and falling, but elevated, interest rates, the buyers’ market remained attractive to quite a few truckers. Seasonality called for a decrease of about 2% m/m,” Steve Tam, vice president at ACT Research, said. “According to plan, auction activity fell from its usual final-month-of-the-quarter high, down 41% m/m. Wholesale transactions advanced 7.1% m/m. Altogether, July sales rose 14% from June. If history is to be believed, August sales should jump a bit.”