It looks like March will be a strong month for retail used truck sales volume. Sales reports from individual dealers (excluding OEM’s and large national chains) currently reflect a 22% increase in number of used trucks sold compared to February.

What we are probably seeing is the predicted increase in trade-in activity resulting from the rebound in new truck orders late last year. Buyers are likely taking delivery of the first of these new trucks, providing dealers with needed used truck inventory.

Preliminary analysis puts average selling price and mileage at levels comparable to February, so the increased volume is not negatively impacting pricing. Basically, used truck inventories are just going from nonexistent to minimal. We are likely entering a “sweet spot,” where prices remain elevated due to high demand, but there is also some inventory to sell.

Look for in-depth analysis of final results in our Guidelines market update this month.