COLUMBUS, Ind. — According to the latest State of the Industry: U.S. Classes 3-8 Used Trucks by ACT Research, same dealer used Class 8 retail truck sales wilted sequentially, but made progress longer term.
“The 13% drop was directionally consistent with, but greater than, the expected 3% seasonal slide,” said Steve Tam, vice president, ACT. May is the third weakest sales month of the year, running 5% below average. The auction and wholesale markets were mixed in May. Auction volumes surged 79% m/m, not unusual as the segment recovers from its first month of the quarter hangover. Wholesale dealer activity shriveled 14% m/m. Combined, May’s total market same dealer sales volumes rose 11% m/m.”
Sales were also down the previous month.
According to Tam, the Class 8 average retail sale price slipped 0.7% m/m in May, to $59,422. Longer term, prices were 5.2% higher y/y.
“While some carriers are leaving the business, there appears to be a steady stream of those willing to throw their hats into the ring,” Tam said. “These willing participants account for the increase in used truck sales volumes the market is currently enjoying.”
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
