COLUMBUS, Ind. — Preliminary Class 8 same dealer used truck retail sales declined 2.9% m/m 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.
“The decline was larger than expected based on historical seasonality, which called for about a 0.5% m/m decrease,” said Steve Tam, vice president, ACT. “Auction sales shed 11% m/m, noticeably less than the typical post-quarter end drop. The wholesale segment settled between the other two channels, contracting 4.1% m/m. Total reported preliminary sales wrapped up July 5.7% lower m/m. Considering the spot freight market appears to have hit a ceiling in July, reduced used truck sales are not surprising.”
“The preliminary average retail price (same dealer sales) of used Class 8 trucks stutter stepped in July, flagging 4.4% m/m at $61,000,” Tam said. “Pricing softened more than seasonal expectations, which called for a little over a 1% reduction.”
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.
