COLUMBUS, Ind. — May preliminary Class 8 same dealer used truck retail sales could not keep pace with April’s activity, down 13% m/m, 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 a 3% m/m decrease,” said Steve Tam, vice president, ACT. “Auction sales surged 79%, directionally consistent with, but more than suggested by, historical expectations. The wholesale segment mirrored retail softness, giving up 19% m/m. However, ytd retail sales were down just 0.7%, with total sales increasing 2.9% ytd. Total reported preliminary sales finished May up 9.4% m/m. The fact that the total market is in sync with seasonal expectations is a welcome testament to the long-awaited balance and stability of the current market.”
“The preliminary average retail price (same dealer sales) of used Class 8 trucks was steady in May, slipping a narrow 0.6% m/m to land at $59,601,” Tam said. “Pricing easily defeated seasonal expectations, which called for more than a 5% decline,” Tam concluded.
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.
great