The average price of total used Class 8 trucks in May was virtually flat, dropping 1 percent month-over-month. Longer term, prices were up 10 percent year-to-date and 6 percent higher compared with May of 2018, according to ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks.
The report also indicated used Class 8 same dealer sales volumes fell 8 percent month over month, 22 percent year over year and 17 percent year-to-date compared with the first five months of 2018. On a month-over-month basis, average mileage dropped 1 percent, while average age was up 5 percent.
“Dealers are reporting that used truck prices are decreasing and trucks are selling for less than they have in some time,” says Steve Tam, ACT Research vice president.
“The market is spotty right now, with some sales representatives and dealers reporting they could sell more if they could get more trucks at the right price, while others are concerned about rising inventory levels,” Tam says. “That said and despite falling prices in the last 60 days, as well as more trucks being shopped to more buyers, used truck prices continue to be higher than normal.”
