ACT Research released its State of the Industry: U.S. Classes 3-8 Used Trucks report Monday. In it, the company states the average price of total used Class 8 trucks in January rose 10 percent when compared to January 2018.
ACT also states used Class 8 same dealer sales volumes fell 12 percent year-over-year, but rose 10 percent when compared to December 2018. On a year-over-year basis, average mileage rose slightly, up 2 percent, while average age was up 8 percent from a year ago, ACT says.
“Dealers are reporting that used truck sales continue to blast along at a very high pace, with the only immediate dark cloud being that there are not enough trucks to meet demand,” says Steve Tam, vice president, ACT Research. “Most dealers are reporting a supply shortage and are spending an inordinate amount of time trying to find used trucks to sell. At the same time, dealers are cognizant of the impending increase in trucks that will eventually make their way to the secondary market as freight growth slows.”
Analysis of the individual market segments continue to indicate mixed results.
Says Tam, “The retail and auction channels were up 13 percent and 10 percent month-over-month, respectively, while the wholesale market fell 3 percent. Long-term, the retail and wholesale markets were down 7 percent and 33 percent year-over-year, respectively. The auction market was up 23 percent. We expect full-year 2019 sales volumes to decline 10 percent compared to 2018.”
