September's same-dealer used truck retail sales volume nudged up a surprising 11% in preliminary data, ACT Research said Monday.
"Underlying fundamentals have not changed perceptibly since August," says Steve Tam, vice president at ACT Research. "Spot freight and freight rates, along with still high but improving interest rates, appear to have been sufficient enough to entice truck buyers. Seasonality called for an increase of about 2% month-over-month."
[RELATED: Class 8 truck orders remain depressed due to high inventory, low demand]
Preliminary auction activity declined 60% from August as did wholesale transactions, which were off 18%, Tam says. Altogether, sales were down 9.4% from August.
ACT's Classes 3-8 Used Trucks report provides data on the average selling price, miles and age based on a sample of industry data. It also provides the average selling price for top-selling Class 8 models for each of the major truck OEMs.
