ACT Research writes in this month’s State of the Industry: U.S. Classes 3-8 Used Trucks that the average price of total used Class 8 trucks in June was flat on a month-over-month basis, but fared better, rising 15 percent, when compared to June 2017.
The report also indicated used Class 8 same dealer sales volumes rose 13 percent year-over-year, while average mileage fell 1 percent and average age declined 2 percent when compared to the previous June.
“Dealers are reporting that used truck sales are very strong, which is good news for dealers, OEMs, finance companies and truckers trading for new trucks,” says Steve Tam, vice president at ACT Research. “The problem is the used truck market is so strong that truck dealers are struggling to find enough trucks to cover the demand they have. As the year progresses, an increasing supply, due to increasing new truck sales, along with a softening in demand will likely lead to slowing price appreciation.”
ACT notes individual market segments yielded mixed results last month.
“Retail and wholesale markets declined 5 percent and 25 percent, respectively, on a month-over-month basis in June, while sales via auctions recorded a 23 percent month-over-month gain. However, when compared longer term, the auction and retail markets show year-over-year increases of 41 percent and 23 percent, respectively, but the wholesale channel was down 18 percent compared to June 2017.”