Preliminary Used Truck Same Dealer Retail Sales Increased 2% M/M in February

| March 20, 2023

ACT Research reports preliminary Class 8 same dealer used truck retail sales volume managed a small gain

Preliminary Class 8 same dealer used truck retail sales volume managed a small gain, rising 2% m/m in February. The small improvement paled in comparison to the 233% sequential increase in auctions sales and a 55% jump in wholesale transactions. Combined, the used truck industry saw preliminary same dealer sales increase 49% m/m, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

Compared to January 2023:

 Used Cl8 Retail Summary Heat Map February (P) 2023

Average retail volumes increased 2%.

Retail price declined 3%.

Miles were flat.

And age declined 3%.

Compared to February of 2022:

  • Average retail volumes declined 20%.
  • Price declined 24%.
  • Miles increased 3%.
  • And age declined 2%.

According to Steve Tam, Vice President at ACT Research, “Traditionally, February is not a particularly robust month for sales, but the cycle seems to keep finding ways to extend itself just a little further.” He continued, “As new truck sales have slowed in January and February, it is safe to assume used truck volumes will follow suit in the next few months.”

Tam concluded, “As expected, declines are becoming progressively more negative. This is the result of the fact that prices increased in early 2022, reaching their zenith in April. While the retail market held up reasonably well in February, the preliminary average sale price for all units, including auction and wholesale transactions, fell an astounding 20% m/m.”

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