Counter to historical seasonality, ACT Research reported Tuesday preliminary Class 8 same dealer used truck retail sales volumes slowed in June, down 5.3%. The data was released in the company's State of the Industry: U.S. Classes 3-8 Used Trucks report.
“A lack of traction in freight and freight rate improvement, coupled with still-high interest rates, remains the largest hurdles to better used truck sales performance,” says Steve Tam, vice president at ACT Research.
Tam says seasonality called for an increase of more than 5% month over month. Auction sales were much better; wholesale movement even weaker, he adds.
“In typical fashion, auction volumes surged in the final month of the quarter, jumping 36% month over month in June. Wholesale activity pulled back, shedding 20% month over month,” says Tam. “Looking ahead, July sales are typically lackluster, with buyers likely to re-engage in a meaningful way in August.”
