As mentioned in the July edition of Guidelines, the volume of trucks reported sold wholesale (auction plus dealer-to-dealer) dropped notably from April to May. June recovered about half of that volume, lending credence to our working theory that May’s drop (along with June’s drop in retail volume) represented a typical one-month late spring/early summer slowdown. See graph below for detail.

Specifically, auctions and dealers reported 3415 trucks sold wholesale in June, a 373 (or 10.9%) increase month-over-month, and a 576 (or 16.9%) increase year-over-year. The increase in volume appears to be across-the-board, similar to May’s decrease.

Pricing, however, turned negative in June. Stay tuned for details.