Auction, wholesale market bolsters used truck movement in November

Used truck chart from ACT Research

Preliminary Class 8 same dealer used truck retail sales volumes were down slightly month over month in November but still historically strong, ACT Research announced Thursday. 

Price was down 5% from October while miles and age both increased 1%. Compared to November 2022, volumes increased 48%, but price, mile, and age saw declines.

But Steve Tam, vice president at ACT Research, says digging into the data uncovers a lot of positives. 

“There is nothing in the retail volume decline to suggest any cause for concern. Actually, it was counter to the other channels,” he says. “Auctions were 62% higher month over month, while wholesaler transactions jumped 12% month over month. In total, the used truck industry advanced, with preliminary same dealer sales accelerating 23% month over month.”

Tam adds, “Given that November is historically the worst sales month of the year, and follows October, which is the best month, the gain is impressive by any standards.”

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