Total Class 8 used truck prices fell 2 percent month-over-month in February but remain up 3 percent year-over-year, ACT Research reported Tuesday in its latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks report.
Also in the report, ACT Research states average mileage was flat compared to last February and the average age was lower on a year-over-year basis.
“Dealers are reporting that used truck sales have strengthened,” says Steve Tam, vice president at ACT Research. “Dealers are working harder to find used trucks to sell and the dynamics of the market have moved from an oversupplied market a year ago to one now in better shape.”
Individual market segments yielded mixed results in February, Tam adds.
“The retail channel volume dropped 3 percent month-over-month in February, while the auction and wholesale segments both recorded increases of 9 percent compared to the previous month,” he says. “Looking forward, we expect volume to continue gaining momentum as we approach spring, supported by seasonal strength, and for full-year totals to remain at or near current levels.”