Preliminary used Class 8 volumes (same dealer sales) reversed course again in October, rising 10 percent month over month, offsetting September’s 10 percent decline, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
The report also indicates used Class 8 same dealer sales volumes rose 9 percent year over year. Average mileage dropped 1 percent and average age declined 2 percent from a year ago.
“Analysis of the individual market channels revealed that all three segments (auction, retail and wholesale) posted month-over-month gains, up 81 percent, 5 percent and 2 percent, respectively,” says Steve Tam, vice president, ACT Research. “Longer term, the retail and auction markets rose 21percent and 3 percent on a year-over-year basis, with the wholesale market contracting 21percent by comparison.”
Regarding prices, Tam adds, “The average used Class 8 selling price recorded a sixth straight month above the trend reading. On a yearly basis, prices continue to enjoy meaningful growth.”