Same-dealer used truck retail sales dropped 11% month over month for January, ACT Research says.
"The drop was larger than expected based on historical seasonality, which called for 6% month over month decrease," says Steve Tam, vice president at ACT Research. "Auction sales saw an even pullback, shriveling 58% from December. Wholesale activity extended decline to a fourth month in January, shedding 12% month over month."
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Tam says total reported January preliminary sales came in 31% below December as well. Prices also dropped 3.7% month over month to an average of $54,966 for same dealer sales.
"It seems reasonable to assume the numerous severe winter storms that pummeled much of the country may also have kept buyers out of used truck lots during the month," Tam says.
