Same dealer sales in the Class 8 used truck market fell 5 percent month over month in September and are down 18 percent year over year and 19 percent year to date, ACT Research reported Monday in its State of the Industry: U.S. Classes 3-8 Used Trucks report.
Additionally, ACT Research notes average miles for Class 8 used trucks sold last month were up 5 percent month over month, while average age fell 3 percent compared to August but remained up (by 4 percent) on a year-to-date basis. Average price slipped by 3 percent month over month but is still up 6 percent year to date.
“Dealers are reporting continued declines in used truck prices and growing truck inventories,” says Steve Tam, vice president, ACT Research. “Some truck dealers and truckers have been unpleasantly surprised that the rate of decline in truck prices has not slowed.”
He adds, “The silver lining to the softer used truck market is there are some bargains for savvy truckers and smart truck dealers now, compared to the overheated market we saw last year and earlier this year.”
