Used Class 8 dealer sales volumes, average miles and average age all declined month over month, down 22 percent, 2 percent and 3 percent, respectively, compared with October, according to the latest release of ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks.
Longer term, same dealer sales volumes were up 21 percent year to date against the first 11 months of 2019, with average price, miles and age all below November 2019 year-to-date rates, down 10 percent, 3 percent and 8 percent, respectively.
“Conversations with dealers over the past month have ranged from the current strong market to already looking ahead in an effort to determine when volumes and prices will start moving in the other direction. For now, most concur that sales are and will remain strong into 2021,” says ACT Research Vice President Steve Tam.
“Perhaps in anticipation of slowing year-end and winter sales, the number of units listed for sale has fallen to its lowest level in quite some time and, needless to say, this is causing some dealers concern as they feel they are missing sales due to the lack of sufficient inventory,” Tam says. “However, as is often the case, not all dealers are seeing the market the same. Wholesalers, and auctions to a lesser degree, are having to work harder in today’s tight market.”
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.