ACT Research says same dealer used truck retail sales had their second-best month since November 2021 in March. The data is found in the latest State of the Industry: U.S. Classes 3-8 Used Trucks.
"The 9.1% month over month gain was not quite as large as expected based on historical seasonality, which called for a nearly 12% month over month increase," says Steve Tam, vice president at ACT Research. "Auction sales improved by an even wider amount (+25%) in typical last month of the quarter fashion. Wholesale activity showed the greatest improvement, growing 34% month over month."
[RELATED: Final February used data trends positive]
Total preliminary sales finished up March up 19% month over month.
Price Digests (owned by Fusable, parent company of TPS), reported monthly price increases for 2-, 5- and 10-year-old trucks in March, especially for newer trucks.
"As freight growth gains momentum, equipment buyers appear a little more confident, encouraging them to invest in used trucks," Tam says.
Preliminary average retail price for same dealer sales held steady in March for Class 9, adding a scant 1.3% to hit $55,591. That's also below seasonal expectations, Tam said, which called for an 11% gain.
