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Used U.S. truck sales up 1% in June

Same-dealer used Class 8 truck sales nudged 1% higher in the U.S. in June, when compared to May, ACT Research reports. But the volumes were still down 44% year over year and 34% lower year to date.

Average prices and mileage were down a respective 6% and 1% compared to May, but the average age was 5% higher month over month. Prices were actually higher year over year and year to date, with prices up 74% year to date in June. Average miles were 3% higher compared to the first six months of 2021, and average age was 6% for the same time period.

ACT Research

“Same-dealer retail sales of used Class 8 trucks held almost steady in June,” said ACT Research vice-president Steve Tam, in a related press release. “The gain is smaller than expected, at least as far as typical seasonality is concerned. Normally, volumes are about 5% larger in June, relative to May. In the grand scheme, June sales are very average, meaning almost no seasonal adjustment is necessary to account for buying habits and/or patterns.”

“As the economy and freight begin to cool from their torrid pace over the past two years, it is logical and expected to see demand for commercial vehicles, both new and used, slow,” he added.

“However, demand is not all about what is happening today. As new and used truck buyers were denied access to equipment because of the supply-chain crunch, they were forced to extend their trade cycles and age their fleets. While this is a short-term tactic, it is a situation that needs to be rectified. It is that replacement of older trucks that will sustain the industry through the trough of the current cycle.”

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