The preliminary Class 8 same dealer used truck retail sales volumes got a boost in May, improving 10% m/m. Combined, the used truck industry saw preliminary same dealer auction, retail, and wholesale sales advance 19% m/m, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

Compared to April 2023, average retail price declined 3%. Miles declined 2% and age was flat. Compared to May of 2022, volumes increased 31%, and price declined 34%, with age and miles down 4% and 1%, respectively.

According to Steve Tam, Vice President at ACT Research, “As in April, the retail market’s performance fell between the auction and wholesale markets. Auction activity recovered nicely from April’s pullback, adding 32% m/m.” said Steve Tam, vice president, ACT Research. “Dealers remained conservative, but by a much narrow margin, with their activity off just 1% m/m in May.

“The May preliminary average retail price (same dealer sales) of used Class 8 trucks continued its downward trek, falling 3.3% m/m to $63,900, 36% below the industry peak in April 2022. On a percentage change basis, the decline is in line with expectations.”