ACT Research expanded on its most recent State of the Industry: U.S. Classes 3-8 Used Trucks report last week, stating the average price of total used Class 8 trucks last month was up 10 percent year-to-date, when compared to the first 11 months of 2017.
The company says its report also indicates used Class 8 same dealer sales volumes fell 17 percent month-over-month, in line with seasonal expectations, but rose 10 percent year-to-date, while average mileage was flat and average age declined 3 percent from a year ago.
“Dealers are indicating that used truck sales are very strong. They are scrambling to find inventory, with many reporting that 2018 may be the best truck market they have ever seen,” says Steve Tam, vice president at ACT Research. “The combination of strong demand and tight supply is keeping truck prices high. While the good news is that trucks are selling, the bad news is the trucks are more expensive than normal.”
Analysis of the individual market segments continue to indicate mixed results.
“Compared to last year, the wholesale market is up 5 percent year-over-year, with the retail segment growing just 1 percent year-over-year. The auction market was bearish in November, contracting 51 percent year-over-year. The three channels carry the same bias on a year-to-date basis,” says Tam.