June Used Truck Market Enjoys Historically Expected Sales Gains

ACT Research reports Class 8 same dealer used truck retail sales volumes improved again in June, up 4%

The preliminary Class 8 same dealer used truck retail sales volumes improved again in June, up 4% m/m. Combined the auction, retail and wholesale channels saw preliminary same dealer sales advance 21% m/m, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks.

Compared to May 2023, average retail price was flat, while miles increased 2% and age declined 3%. Compared to June of 2022, volumes and miles increased 24% and 1%, respectively, but price and age declined 27% and 9%.

According to Steve Tam, Vice President at ACT Research, “For the third straight month, the retail market’s performance fell between the auction and wholesale markets.” He continued, “Auction activity turned in its typical third month of the quarter burst, adding 48% m/m. Dealers continue to play it close to the vest, with their sales down 7% m/m in June.”

Tam concluded, “Historically, June is the fourth best sales month of the year, about 14% above, accounting for some, but not all of the gain the industry enjoyed in June.” 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

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