ACT Research reports the average price of total used Class 8 trucks sold in 2018 was up 10 percent compared to 2017, the company announced Friday in its latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks report.
ACT Research says the report also indicated that used Class 8 same dealer sales volumes fell 9 percent month-over-month, but rose 8 percent for the full-year 2018. Average mileage was flat compared to 2017, while average age declined 3 percent in 2018.
“Dealers are reporting that used truck sales continue at a very high pace, with the only immediate dark clouds being that there are not enough trucks to meet demand,” says Steve Tam, vice president, ACT Research. “However, dealers are also cognizant of slowing freight growth and the subsequent dynamics expected to play out in the new truck market. Ultimately, the industry expects an abundance of inventory that will inevitably put downward pressure on prices.”
Analysis of the individual market segments continue to indicate mixed results.
Says Tam, “The retail segment posted its first year-over-year decline since December 2016, but was up 13 percent year-to-date. On the other hand, the auction channel was up 8 percent year-over-year, but down 4 percent year-to-date. The wholesale segment dropped 30 percent year-over-year, remaining flat for full-year 2018.”