Preliminary Class 8 same dealer used truck retail volumes logged solid gains in July, rising 5.5% month over month, ACT Research reports.
[RELATED: Used truck prices climbed in June]
"The market continued to outperform historical seasonality, which called for a scant 0.5% month over month increase," says Steve Tam, vice president at ACT. "Piling on to June's out of sync performance, auctions pulled back 27% month over month in July. Wholesale transactions withered by a similar margin, moving 26% fewer units in July."
Total July preliminary sales numbers were down 10%.
"Spot freight market capacity tightened for a fifth consecutive month in July," Tam says. "At the same time, freight growth has failed to materialize. Declining freight may be one catalyst for lower sales."
