Preliminary Class 8 same dealer used truck retail sales contracted 11% m/m in January, according to the latest preliminary release of the State of the Industry: U.S. Classes3-8 Used Trucks published by ACT Research.

“The drop was larger than expected based on historical seasonality, which called for a 6% m/m decrease. Auction sales saw an even pullback, shriveling 58% from December. Wholesale activity extended decline to a fourth month in January, shedding 12% m/m,” according to Steve Tam, Vice President at ACT Research. “Total reported January preliminary sales came in 31% off December’s pace. It seems reasonable to assume the numerous severe winter storms that pummeled much of the country may also have kept buyers out of used truck lots during the month.

“The preliminary average retail price (same dealer sales) of used Class 8 trucks also pulled back in January, sliding 3.7% m/m to $54,966. Pricing outperformed seasonal expectations, which called for a 6% drop,” Tam concluded.

ACT’s Classes 3-8 Used Truck report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.