Class 8 retail used truck sales had a breakout in February, with volume up 23% against January, ACT Research reported Friday.
“The 23% month-over-month increase was directionally consistent with, but much greater than, the expected 4% seasonal gain. February is usually the sixth weakest sales month of the year, running about 2% below average,” says Steve Tam, vice president at ACT Research.
“The auction and wholesale markets also both improved in February. Auction volumes ballooned 127% month over month as they recovered from their typical first month of the quarter blues,” he adds. “Wholesale dealer activity increased 22% month over month. Combined, February total market same dealer sales volumes surpassed January by 51%.”
Tam says pricing was mostly flat against January. Pricing stability is a good sign when volumes rise.
“The used Class 8 average retail sale price was flat m/m in February, slipping just $25, to $55,215. Longer term, prices were 2.6% higher year over year,” he says.
