U.S. retail sales of medium-duty trucks dipped 3.8% in July compared with a year earlier amid more inventory, but remained 10.9% ahead of the 2015 year-to-date period, WardsAuto.com reported.
Sales in July slipped to 16,256 units, down 636 from 16,892 a year earlier, according to Ward’s. Class 6 sales improved, while Class 7 and Classes 4 and 5 posted declines.
“The medium-duty market is cruising along very much as expected,” said Steve Tam, vice president of the commercial sector at ACT Research Co.
He said the market continued to be a story of the consumer’s support of "both durable goods and nondurable goods."
Meanwhile, a total of 56,995 medium-duty units were in stock at the end of the month, up from 51,624 a year earlier, Ward’s said.