COLUMBUS, Ind. — Preliminary Class 8 same dealer used truck retail sales plunged 17% m/m in November, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“The drop was in line with historical seasonality, which called for a 16.5% m/m decrease. Auction sales saw an even bigger drop, shedding 33% relative to a strong October,” said Steve Tam, vice president, ACT. “Wholesale activity saw its first decline in four months in November, contracting 20% m/m,” according to. Total reported November preliminary sales came in 24% lower than October. It seems pretty clear the used truck market is reflecting a soft freight environment. Load and truck postings also declined in the spot freight markets from October to November.”
“The preliminary average retail price (same dealer sales) of used Class 8 trucks fell m/m for a fourth consecutive month in November, dipping 2.0% m/m to $53,598. Positively, November’s drop paled in comparison to seasonal expectations, which called for a 15% reduction,” Tam said.
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.
