After another strong month for pricing in the auction space, ACT Research reported Friday used Class 8 retail same dealer sales saw volumes up almost 9% and price up 7% month over month in April.
“Used truck buyers did not let up in April, driving preliminary Class 8 same dealer used truck retail sales volumes higher,” says Steve Tam, vice president at ACT Research. “The market crushed historical seasonality, which called for an 11% month-over-month decrease.”
The average age and miles of trucks sold in April were down 6% and 2% respectively. Year over year, pricing was up 4% and volume jumped by 23%.
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In other areas, Tam adds auction sales saw their routine post-quarter-end retrenchment, shriveling 57% month over month. Wholesale transactions remained elevated, adding 36% month over month.
“In total, April preliminary sales shed 20% month over month. Despite the mixed signals from both within and from outside of the industry, buyers continued to capitalize on a well, but not over stocked inventory of available equipment at affordable prices,” he says.
