The average price of total used Class 8 trucks in June was virtually flat, gaining 2 percent month over month, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
Longer term, prices were up 10 percent year to date and 6 percent higher compared with June of 2018. The report also indicates used Class 8 same dealer sales volumes fell 10 percent month over month, 26 percent year over year and 18 percent year to date compared with the first six months of 2018.
On a month-over-month basis, average mileage dropped 2 percent, while average age was down 5 percent, ACT reports.
“Dealers are reporting that used truck sales have slowed and appear to be slowing to even lower levels than what is currently being sold,” says Brian Armstrong, ACT information systems manager. “Many are reporting that there has been some downward adjustment of prices, but they are still good, and despite slower sales and lower truck values, sales remain strong and prices are higher for a given age and mileage level than what would normally be expected.”
The report from ACT provides data on the average selling price, miles and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs.
