Used Class 8 sales 'better than expected' in June

Used Class 8 sales ‘better than expected’ in June

These findings suggest that the dealers involved in their database have likely improved their market share penetration.

According to the latest numbers from ACT Research, used Class 8 retail volumes (same dealer sales) improved again in June, though by a narrower margin at plus-1.8% month-over-month. Average mileage increased 2%, with average price down 1% and age 2%. Longer term, average volumes jumped 19%, price and age dropped 26% and 9%, respectively, and miles was flat.

“Sales usually increase 4 to 5% in June, so the increase was not unexpected in that regard,” said Steve Tam, vice president at ACT Research. “However, in the context of the current freight market, and amid all the press regarding fleets going out of business, it may seem a little counterintuitive.”

“The reality is that there is a net decline in the number of fleets with operating authority, but it is important to remember fleets are both entering and exiting operation daily,” he added. “It is, in part, that churn that is driving the better-than-expected sales volumes. In addition to the churn, more inventory is affording carriers an opportunity to refresh their fleets with younger used trucks.”

Tam said that as the year has advanced, the year-to-date performance has shown a clear distinction from the previous year. “The overall market has strengthened its position with a 17% increase year-to-date. However, it is crucial to understand that this growth is not indicative of the entire market’s expansion. Instead, it suggests that the dealers involved in their database have likely improved their market share penetration.”

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