ACT Research reported Tuesday in its State of the Industry: U.S. Classes 3-8 Used Trucks report that the average price of total used Class 8 trucks fell 3 percent last month.
Despite the monthly slip, ACT states October’s price was up 11 percent year-over-year and that the market is up 9 percent year-to0-date. The report also indicates used Class 8 same dealer sales volumes are up 11 percent year-to-date, while average mileage is flat and average age has declined 4 percent from a year ago. When compared shorter term, ACT says same dealer sales volumes rose 2 percent month-over-month, after reporting a 9 percent month-over-month drop in September.
“We’re seeing a very positive trend, with more activity on late model aerodynamic sleepers than was expected, and wholesalers and used truck dealers are working harder to find used trucks that are priced ‘right,’” says Brian Armstrong, information systems manager at ACT Research. “New trucks continue to get more expensive due to inflation, higher content, and advanced technologies, making used units more attractive and a benefit for those customers preferring less technology on their trucks.”
Analysis of the individual market segments continue to indicate mixed results.
“Compared to last year, retail and auction markets recorded year-over-year gains of 8 percent and 1 percent, respectively, but the wholesale market recorded a 20 percent loss. However, all three channels were in positive territory on a year-to-date basis,” Armstrong says.