ACT Research confirms strong close to 2020 for used truck space

shutterstock_537088753

Both used Class 8 same dealer sales pricing and volume rose last month, ACT Research reported this week in its State of the Industry: U.S. Classes 3-8 Used Trucks report.

The company says volumes were up 13 percent month over month, while price was up 3 percent. Average age also improved by 1 percent in December compared to November. Overall, the company says same dealer sales volumes were up 22 percent year-to-date against full-year 2019. Price, miles and age fell by 7, 3 and 8 percent, respectively.

“Comments from dealers since last month’s publication continue to focus on how much better than expected the used truck market was in 2020, a theme that seems to resonate throughout not only the commercial vehicle industry, but the broader economy as well,” says Steve Tam, vice president, ACT Research.

He adds, “Unfortunately, lackluster new truck sales conspired to choke the flow of equipment into the secondary market. Dealers continue to lament the lack of inventory as the main limiting factor to what could have been an even better year.”

Looking across multiple channels, Tam adds that while retail customers were largely absent in the first half of the year, they “came back with gusto in the second half.” That was the opposite of the wholesale and retail segments that started strong but waned as the year progressed, Tam says.

“While the pattern was similar, auction ended in the red in 2020, while wholesale activity improved relative to 2019,” he adds.

Learn how to move your used trucks faster
With unsold used inventory depreciating at a rate of more than 2% monthly, efficient inventory turnover is a must for dealers. Download this eBook to access proven strategies for selling used trucks faster.
Download
Used Truck Guide Cover