As we enter the 3rd quarter of 2014, the number of trucks sold at auction or dealer-to-dealer remains comfortably ahead of same-period 2013. Through June, NADA collected 20,779 wholesale records, compared to 19,449 for the same period last year – a difference of 1,330 (or 6.8%). We had predicted a roughly 5% improvement year-over-year, so the year is outperforming our expectations.

As we’ve noted, an increased volume of 3-5 year-old trucks, especially those with under 500,000 miles, is primarily responsible for the increased volume. A secondary factor is increased interest in older, higher-mileage trucks – specifically those with over 800,000 miles. See graph below for detail.

As for the retail channel, dealers sold an average of 5.8 trucks per rooftop in June. This figure is 0.2 truck lower than May, but 1.1 trucks higher than June, 2013. In terms of the year to date, 2014 is running 0.1 truck behind 2013, at 5.9 vs. 6.0.

The late spring/early summer period is traditionally weak for retail volume, but that pattern did not develop this year. Strong activity in the 3-5 year-old segment, driven by increased supply of off-lease iron, is responsible for the increased volume. See graph below for detail.

Stay tuned for more analysis of June data later this week.