ACT Research's early November numbers show same dealer used truck sales dropped 17% month over month.
"The drop was in line with historical seasonality, which called for a 16.5% month over month decrease," says Steve Tam, vice president at ACT. "It seems pretty clear the used truck market is reflecting a soft freight environment. Load and truck postings also declined in the spot freight markets from October to November."
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Tam says auction sales were off 33% from a stronger October and wholesale activity showed its first drop in four months, falling 20% month over month. Total reported preliminary sales were 24% lower than in October.
"The preliminary average retail price (same dealer sales) of used Class 8 trucks fell month over month for a fourth consecutive month in November, dipping 2% month over month to $53,598," Tam says. "Positively, November's drop paled in comparison to seasonal expectations, which called for a 15% reduction."
