COLUMBUS, Ind. — It has not been a typical June for used truck sales. In fact, counter to historical seasonality, preliminary Class 8 same dealer used truck retail sales volumes slowed in June (-5.3%), according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
“A lack of traction in freight and freight rate improvement, coupled with still-high interest rates, remains the largest hurdles to better used truck sales performance. Seasonality called for an increase of more than 5% m/m,” according to Steve Tam, Vice President at ACT Research. “In typical fashion, auction volumes surged in the final month of the quarter, jumping 36% m/m in June. Wholesale activity pulled back, shedding 20% m/m.”
Tam concluded, “Looking ahead, July sales are typically lackluster, with buyers likely to re-engage in a meaningful way in August.”
ACT’s Classes 3-8 Used Truck report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
