Used retail, auction sales combat weak wholesale market in March

ACT Research reported Wednesday used Class 8 truck same dealer sales volumes improved for the third consecutive month in March and were up 1 percent on a year-over-year basis sales.

The information comes from the company’s State of the Industry: U.S. Classes 3-8 Used Trucks report, which also indicates the average price of total used Class 8 trucks has risen 3 percent year-over-year. Mileage is up 1 percent and the average age of used Class 8 trucks has dropped 4 percent compared to the same time in 2017.

Dealers are reporting that used trucks are selling much better than they were six months or a year ago,” says Steve Tam, Vice President at ACT Research. “Finance companies are also reporting stronger used truck sales. Late model used aero dynamic sleepers are starting to sell better, which is good news to dealers, but despite this, there are still more of those units in inventory than there are buyers for them.”

Individual market segments yielded mixed results in March, Tam says.

“Retail and auction segments reported solid improvements, with volumes up 4 percent and 11 percent year-over-year, respectively. The wholesale market, however, fell 8 percent from March 2017, as wholesalers are struggling to find units to sell,” he says. “Looking forward, we expect volumes to lose some steam as spring progresses and for full-year sales to remain at or slightly above 2017 levels.”

Learn how to move your used trucks faster
With unsold used inventory depreciating at a rate of more than 2% monthly, efficient inventory turnover is a must for dealers. Download this eBook to access proven strategies for selling used trucks faster.
Used Truck Guide Cover