Used Truck Retail Sales Grew in May, Counter to Expectations

ACT Research reports preliminary Class 8 same dealer used truck retail sales volumes continued to increase in May

Counter to expectations, preliminary Class 8 same dealer used truck retail sales volumes continued to increase in May (+7.4%), according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

“Besides a soft freight environment, flat freight rates, and elevated borrowing costs, seasonality called for about a 6% decline,” according to Steve Tam, Vice President at ACT Research. “Auction volumes rebounded heartily from April’s post quarter-end hangover, adding 38% m/m in May. Wholesale activity floated higher, gaining 1.9% m/m.”

Tam concluded, “May retail sales are typically six percentage points below normal. Second quarter sales tend to be pretty average, with June as the epitome of average. Sales are also usually unremarkable in July.”

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.

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