COLUMBUS, Ind. — Volume growth of Class 8 same dealer used truck sales of +1.7% in August lagged behind expectations, according to a preliminary release of ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks.
According to the Sept. 16 release, the drop, which came after a better-than-expected July, is no surprise to analysts.
“Stubbornly persistent softness in spot freight and freight rates, coupled with still high but improving inflation and interest rates, have failed to act as barriers to entry or dissuade truck buyers. Seasonality called for an increase of just over 9% month over month,” said Steve Tam, vice president at ACT Research. “Auction activity improved 21% from July, as did wholesale transactions, up 24%. Altogether, sales rose 12% from July.”
ACT’s Classes 3-8 Used Truck report provides data on the tractors’ average selling price, miles and age based on a sample of industry data.
Linda Garner-Bunch has been in publishing for more than 30 years. You name it, Linda has written about it. She has served as an editor for a group of national do-it-yourself publications and has coordinated the real estate section of Arkansas’ only statewide newspaper, in addition to working on a variety of niche publications ranging from bridal magazines to high-school sports previews and everything in between. She is also an experienced photographer and copy editor who enjoys telling the stories of the “Knights of the Highway,” as she calls our nation’s truck drivers.
