ACT Research released its most recent State of the Industry: U.S. Classes 3-8 Used Trucks report Monday, and notes total Class 8 used truck prices rose 2 percent year-over-year in January but dipped 3 percent month-over-month.
“Dealers are reporting that there was a noticeable increase in used truck sales at the end of 2017 that appears to be more than the end of the year ‘buying trucks to avoid paying taxes’ often seen,” says Steve Tam, vice president at ACT Research. “Many dealers were happy to report more interest in late model aerodynamic sleepers than what was expected. Despite the good news regarding sales of these units, however, this segment continues to be oversupplied.”
ACT reports all three markets, retail, wholesale and auction, were up month-over-month and year-over-year in January.
“Wholesalers and used truck dealers are working harder to find used trucks and struggling to find those that are priced right, possibly a signal that supply of some used trucks is shrinking,” says Tam. “Given the expected strength of the new truck market in 2018, it is likely pricing pressure will resume in the latter half of the year.”