Used Truck Retail Sales Off to a Robust Start in 2024

ACT Research reports preliminary Class 8 same dealer used truck retail sales volumes accelerated 17% m/m in January

Preliminary Class 8 same dealer used truck retail sales volumes accelerated 17% m/m in January, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

According to Steve Tam, Vice President at ACT Research, “The retail sales gain is uncharacteristic, as sales typically slow in the new year. January retail sales historically lag the average month by about 9% and see an eight-percentage point decline from December.” He continued, “Auctions were 59% lower m/m, while wholesale activity slumped 20% m/m. In total, the used truck industry declined, with preliminary same dealer sales slowed 31% m/m.”

Tam concluded, “Robust used truck demand suggests the opportunity for sales to improve moderately in February, as freight is showing nascent signs of growth.”

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