October volumes increased 12 percent month-over-month, up 37 percent from October last year, ACT Research states in its latest State of the Industry: U.S. Classes 3-8 Used Trucks report.
“Compared to the first ten months of last year, the year-to-date volume gap widened to 21 percent,” says Steve Tam, vice president at ACT Research. “A look at the individual market segments reveals strong growth in the auction and wholesale segments, while the retail market held steady.”
ACT states dealers are reporting that used truck sales appear are better than expected, but there is still an oversupply of trucks.
“Used vocational trucks, such as dump trucks and heavy haul tractors, continue to bring a good profit,” says Tam. “These trucks were in short supply before the hurricanes hit, and are now needed for both the additional cleanup work and as replacements for the trucks damaged during the storms.”