Preliminary numbers show Class 8 used truck retail sales volumes held fairly steady for May.
ACT Research reports a 1% decrease month-over-month, which is less than the seasonal expectation of a 3% month-over-month decrease.
[RELATED: Trailer orders slip but hold up against seasonal expectations]
"Auction sales were extremely strong, exploding 141% month-over-month," says Steve Tam, vice president at ACT. "Wholesale transactions struggled, giving up 22% month-over-month."
May's preliminary sales, in total, were 33% higher month-over-month.
[RELATED: Used truck prices rise in April, analysts say]
"The spot freight market saw a tightening of capacity in May, perhaps contributing to the steadiness of the used truck market," Tam says. "Regardless, sellers and buyers appear laser-focused on developments and remain agile, ready to react accordingly."
