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ACT Research: Used Truck Retail Sales Off to Robust Start in 2024

February 15, 2024, 07:10 AM
Filed Under: Trucking

Preliminary Class 8 same dealer used truck retail sales volumes accelerated 17 percent month over month (m/m) in January, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

Steve Tam, Vice President at ACT Research, said, “The retail sales gain is uncharacteristic, as sales typically slow in the new year. January retail sales historically lag the average month by about 9 percent and see an eight-percentage point decline from December.” He added, “Auctions were 59 percent lower m/m, while wholesale activity slumped 20 percent m/m. In total, the used truck industry declined, with preliminary same dealer sales slowed 31 percent m/m.”

Tam concluded, “Robust used truck demand suggests the opportunity for sales to improve moderately in February, as freight is showing nascent signs of growth.”

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