Following a better-than-expected July, it comes as no surprise that August’s preliminary Class 8 same dealer used truck retail sales volume growth (+1.7%) lagged expectations, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

“Stubbornly persistent softness in spot freight and freight rates coupled with still high but improving inflation and interest rates, have failed to act as barriers to entry or dissuade truck buyers. Seasonality called for an increase of just over 9% m/m,” according to Steve Tam, Vice President at ACT Research. “Auction activity improved 21% from July, as did wholesale transactions, up 24%. Altogether, sales rose 12% from July.”

ACT’s Classes 3-8 Used Truck report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.