June used truck market sees historically expected sales gains

June used truck market sees historically expected sales gains

Compared to June of 2022, volumes and miles increased 24% and 1%, respectively, but price and age declined 27% and 9%.

According to the latest numbers from ACT Research, Class 8 same-dealer used truck retail sales volumes improved again in June, up 4% over the previous month. Combined, the auction, retail and wholesale channels saw preliminary same dealer sales advance 21% month-over-month, ACT found.

Compared to May 2023, average retail price was flat, according to the company, while miles increased 2% and age declined 3%. Compared to June of 2022, volumes and miles increased 24% and 1%, respectively, but price and age declined 27% and 9%.

“For the third straight month, the retail market’s performance fell between the auction and wholesale markets,” Steve Tam, vice president, ACT Research, said. “Auction activity turned in its typical third month of the quarter burst, adding 48% m/m. Dealers continue to play it close to the vest, with their sales down 7% m/m in June.”

Tam concluded that in the past, June has been the fourth highest performing month for sales throughout the year, with a growth of approximately 14% compared to other months. This increase contributes to the industry’s overall gain in June, although it does not account for all of the growth experienced during that period, ACT noted.

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