COLUMBUS, Ind. — Preliminary Class 8 same dealer used truck retail sales volumes contracted 4.4% 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.
Compared to June 2023, average retail price declined 4%, while miles and age both declined 2%, according to ACT.
Compared to July of 2022, volumes improved by 34%, while price declined 28%, miles declined 4%, and age declined 9%.
According to Steve Tam, vice president at ACT Research, “Following three months of being bookended, retail sales handily outsold auctions and wholesalers.” He continued, “Auction activity pulled back 48% month-over-month from its usual end-of-quarter spike. Dealers increased their conservatism in July, with wholesale transactions down 36% month-over-month in July. In total, the used truck industry saw preliminary same dealer sales fall 31% month-over-month.”
Tam concluded, “Historically, July is the fourth slowest sales month of the year, about 5% below average, pretty much explaining all the losses the industry experienced in June.”
Linda Garner-Bunch has been with The Trucker since 2020, picking up the reins as managing editor in 2022. Linda has nearly 40 years of experience in the publishing industry, covering topics from the trucking and automotive industry to employment, real estate, home decor, crafts, cooking, weddings, high school sports — you name it, she’s written about it. She is also an experienced photographer, designer and copy editor who has a heartfelt love for the trucking industry, from the driver’s seat to the C-suite.
