With 43% of our September dealer sales reports collected, retail used truck sales per rooftop are trending unexpectedly low. In fact, unless remaining reports show higher-than-average sales, September will likely turn out to be the lowest month since October of 2009 – nearly a four-year low. See graph below for detail.

If you recall, the most recent volume dip was in June of this year. We attributed that dip to natural market conditions, specifically a typical late spring pause in acquisitions. Unfortunately, there is no recent precedent for a fall pause. The last two months of the year are not typically strong sales months, but September is too early for that cycle, plus the magnitude is much greater. 
There is no economic reason for a notable drop in sales volume. We will continue to closely monitor this situation and report our findings to the industry. In the meantime, your observations are welcome in the comments below.