Used sales volumes well ahead of 2019; price trends up in October

Used Class 8 same dealer sales volumes have risen 20 percent this year through October compared to last year, ACT Research reported last Friday in its most recent State of the Industry: U.S. Classes 3-8 Used Trucks report.

Other sales metrics aren’t as strong year over year — average price, miles and age are down 11, 2 and 8 percent, respectively, through October — though price was up 6 percent in the most recent month over month comparison.

“Input from dealers with whom we communicated over the past month confirms that the recovery in the market remains on track, though it is showing some signs of slowing,” says Steve Tam, vice president, ACT Research. “At the beginning of the pandemic, the industry sidelined more than 100,000 for-hire truck drivers, artificially tightening capacity.

“The two catalysts of solid freight growth and unproductive trucks have conspired to drive spot freight rates to record levels, and this, in turn, has attracted a higher-than-expected number of buyers to the used truck market, yielding higher sales and selling prices,” he adds.

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