ACT Research confirmed a softening in the retail used truck sector for Class 8 units in May, reporting Tuesday in its state of the market report that the segment wilted sequentially, but made progress longer term.
“The 13% drop was directionally consistent with, but greater than, the expected 3% seasonal slide. May is the third weakest sales month of the year, running 5% below average,” says Steve Tam, vice president at ACT Research.
In the auction and wholesale markets, activity was mixed. Tam says auction volumes surged 79% month over month, “not unusual as the segment recovers from its first month of the quarter hangover.”
Wholesale dealer activity shriveled 14% against April. Combined, May’s total market same dealer sales volumes rose 11% month over month, Tam says.
Back in the retail channel, Tam says the average price was down 0.7% month over month to $59,422. Longer term, prices were 5.2% higher year over year.
“While some carriers are leaving the business, there appears to be a steady stream of those willing to throw their hats into the ring. These willing participants account for the increase in used truck sales volumes the market is currently enjoying,” he says.
