After an anomalous sequential gain in October, ACT Research notes used Class 8 same dealer sales volumes returned to trend in November, falling 35 percent month over month, the company reported in its most recent State of the Industry: U.S. Classes 3-8 Used Trucks report.
ACT reports longer term, sales were down 9 percent year over year and 16 percent year-to-date compared to the first 11 months of 2018.
“Dealers are reporting used truck sales are lagging, inventory is building, prices are falling, and the used truck market remains a buyer’s market,” says Steve Tam, vice president, ACT Research. “While all of this is not welcome news for finance companies, truckers trading trucks, truck OEMs or dealers, it is good news for people who are buying trucks. Customers are finding that there are bargains available for all makes and models of used trucks, and there are some fantastic buys.”
The report also notes used Class 8 average miles decreased month over month, down 5 percent, and were up a mere 1 percent year-to-date, while average age rose 3 percent compared to October and 5 percent on a year-to-date basis. Average price also grew 5 percent month over month but was flat year-to-date, the company notes.
