ACT: Used truck sales downshifted in April

ACT Research used Class 8 retail summary April 2024

Preliminary numbers show the growth rate for Class 8 same dealer used truck sales continued to slow in April, but the good news is it's still increasing ever so slightly, ACT Research announced Thursday. 

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"Though the margin is narrowing, the volume growth was counter to seasonality, which called for a sizable decline," says Steve Tam, vice president at ACT. "As is often the case in the first month of the quarter, auction volumes decreased meaningfully, down 48% month-over-month, with wholesale activity trailing off 9.2% month-over-month." 

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Other data show the average price is down, both month over month and year over year. Average miles are also down in both categories. But average age is up slightly month over month and down slightly year over year. 

"April retail sales are normally very average, thanks to a nearly nine percentage point decrease from March," Tam says. "Second-quarter sales tend to be pretty average, with June as the epitome of average. Sales are usually lackluster in July as well." 

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