Preliminary Class 8 same dealer used truck retail sales declined 2.9% m/m in July, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

“The decline was larger than expected based on historical seasonality, which called for about a 0.5% m/m decrease. Auction sales shed 11% m/m, noticeably less than the typical post-quarter end drop. The wholesale segment settled between the other two channels, contracting 4.1% m/m,” according to Steve Tam, Vice President at ACT Research. “Total reported preliminary sales wrapped up July 5.7% lower m/m. Considering the spot freight market appears to have hit a ceiling in July, reduced used truck sales are not surprising.

“The preliminary average retail price (same dealer sales) of used Class 8 trucks stutter stepped in July, flagging 4.4% m/m at $61,000. Pricing softened more than seasonal expectations, which called for a little over a 1% reduction,” 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.