While used vocational trucks are performing better than their over-the-road counterparts, used Class 3-8 trucks improved month over month and year over year in February, according to Act Research’s State of the Industry: U.S. Classes 3-8 Used Trucks report.
Used Class 8 same dealer sales volumes improved 14 percent month over month in February. Longer-term sales rose 9 percent year over year compared with February 2019, ACT states.
The report also indicates used Class 8 average price in February contracted 6 percent month over month, with average miles up 1 percent sequentially and average age down 5 percent compared with 2020’s opening month. Longer term, average price and age dropped 15 percent and 4 percent, respectively, while average miles were flat.
“Dealers are reporting that used trucks sales have slowed and many people in trucking are asking the question of whether or not used truck prices have hit bottom yet. Most do not think it has,” says Steve Tam, ACT vice president.
“Dealers are reporting that they have high levels of used truck inventory, especially aerodynamic sleepers. The market and prices for used vocational trucks — dumps, refuse, etc. — are stronger than for over-the-road sleepers.” Tam says. “The used aerodynamic sleeper segment is the victim of its own success in 2017 and 2018 and, as such, is now oversupplied at the same time demand is contracting. This has led to a weak pricing environment and uncertainty for dealers and truck OEMs when trading for used aero sleepers.”
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.
