The used Class 8 truck market remained resilient in June, with retail sales rising more than expected and prices climbing above $61,000, according to preliminary data from ACT Research.
Same-dealer used Class 8 retail sales increased 11% from May, significantly outperforming the typical seasonal gain of about 2%.
“The gain was larger than expected based on historical seasonality, which called for a 2% month over month increase,” said Steve Tam, vice president at ACT Research.
Not all segments of the used truck market fared as well. Auction sales fell 22% month over month, bucking the normal end-of-quarter trend that typically sees a 35% increase. Wholesale sales also declined, slipping 12%.
Overall, total preliminary reported used truck sales fell 6.6% from May.
“The significant disconnect in the auction market bears watching; the concern being that it could be a bellwether for the broader industry,” Tam said.
Pricing remained a bright spot. The preliminary average retail price for used Class 8 trucks sold through the same dealers rose 5% from May to more than $61,000, outperforming seasonal expectations, which called for prices to remain flat.
“Pricing once again easily defeated seasonal expectations,” Tam said.
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