Used Class 8 retail sales lose steam in September

Used Class 8 truck sales showed a notable sequential slowdown in the same-dealer used retail market in September despite overall gains. ACT Research found that overall Class 8 used truck sales grew 10.2% to 24,900 units from 22,600 the prior year. Sales were also up 4.6% sequentially from 23,800 units. But the report highlighted that the 5.7% slip in same-dealer used retail truck sales followed a notable decline in August. Same-dealer sales still managed to come in ahead of the prior year. “The September decline in used Class 8 retail sales was directionally consistent with, but greater than, the typical seasonal drop,” said Steve Tam, vice president at ACT Research. “While auction volumes rebounded in the last month of the quarter, retail and wholesale channels faced continued headwinds.” ACT Research also reported that the average retail sales price increased 11.5% to $64,007 from $57,383 the prior year but was down 1.9% sequentially from $65,234. Average retail mileage increased 1% to 414,000 from 410,000 a year ago and 1.5% from 408,000 miles in August. “Higher average miles and an uptick in vehicle age contributed to downward pressure on pricing, but the market’s longer-term trajectory remains positive, reflecting the resilience of carriers navigating a challenging operating environment,” Tam said. Commercial Truck Trader data reflected those results, with its shopper activity cooling after a strong July and August. It showed per-dealer search activity was down about 18% month over month, and leads were down about 15%. But that activity was still strong overall for the quarter, with per-dealer leads up 21% over the…

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