Same-dealer used truck retail sales were up 11% month over month in June, ACT Research says.
"The gain was larger than expected based on historical seasonality, which called for a 2% month over month increase," says Steve Tam, vice president at ACT. "Auction sales sank 22%, uncharacteristic compared to the normal 35% end-of-quarter surge."
The wholesale segment dropped 12% month over month and total reported preliminary sales ended May down 6.6% month over month, Tam says.
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"The significant disconnect in the auction market bears watching; the concern being that it could be a bellwether for the broader industry," he says.
The preliminary average retail price for same dealer sales of used Class 8 trucks was also up 5% month over month to $61,000.
"Pricing once again easily defeated seasonal expectations, which called for no change," Tam says.
