Preliminary used Class 8 volumes fell 2 percent month-over-month in July, the fourth consecutive sequential drop, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
Additionally, the report indicates longer-term comparisons yielded a 22 percent decline compared with July 2018, as well as a year-to-date drop of 18 percent.
Other data released in ACT’s preliminary report included sequential comparisons for July 2019, which showed that average prices fell 4 percent, while average miles increased 2 percent and average age was up 4 percent.
“Used truck prices are the hottest topic in the industry right now,” says Steve Tam, vice president, ACT Research. “Many dealers are experiencing significant softening in prices, but the erosion is not uniform. Depending on a host of factors, experiences vary and a few factors that impact prices include customer, equipment specifications, location and vehicle condition.”
