COLUMBUS, Ind. — Preliminary Class 8 same dealer used truck retail sales volumes slipped in November, according to ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks.
Compared to October 2023, average retail price declined 5%, while miles and age both increased 1%. Compared to November 2022, volumes increased 48%, but price, mile and age saw declines.
According to Steve Tam, vice president at ACT Research, “There is nothing in the retail volume decline to suggest any cause for concern. Actually, it was counter to the other channels. Auctions were 62% higher month-over-month, while wholesaler transactions jumped 12% month-over-month.”
In total, the used truck industry advanced, with preliminary same dealer sales accelerating 23% month-over-month, he said.
“Given that November is historically the worst sales month of the year, and follows October, which is the best month, the gain is impressive by any standards,” Tam concluded
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.