Used Class 8 retail volumes (same dealer sales) were 6 percent lower month over month, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
Longer term, volumes were down 20 percent year over year, but up 13 percent year to date. Average prices were 3 percent higher compared to September, 54 percent more expensive than in October of 2020, and 36 percent greater YTD. Average miles were 1 percent greater m/m and up 4 percent y/y, while average age increased 2 percent from September and was 6 percent older compared to October of 2020, ACT reports.
“Used Class 8 same dealer retail sales volumes struggled in October, returning to sequential decline, following two months of gains. The softness contradicted seasonal expectations, which called for an equivalent gain,” says ACT Research Vice President Steve Tam. “However, lackluster new truck sales and the lack of used truck inventory have conspired for most of 2021 to foil historical seasonality.”
Looking at the different sales channels for used Class 8 vehicles, Tam says, “Near-term channel results were also unfavorable for both the auction and wholesale outlets. All three markets also experienced lower volumes compared to October 2020. Through the first 10 months of the year, only the retail segment has improved.
“Earlier comments regarding seasonality notwithstanding, history suggests the tumultuousness will be in play through the end of the year. Typically, November is the second weakest retail sales month of the year, with December ending the year roughly 6 percent above average,” he says.
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.
