Wednesday, January 17, 2018

Class 8 used truck sales down 3% in October, but off only 1% for year


Friday, November 27, 2015
The past nine months saw flat volumes of used truck sales relative to the same time frame in 2014. (The Trucker file photo)
The past nine months saw flat volumes of used truck sales relative to the same time frame in 2014. (The Trucker file photo)

COLUMBUS, Ind. — Used Class 8 truck metrics presented mixed information across the board in October, according to a November 25 report from industry analyst ACT Research.

Volumes shrank 3 percent from September to October, but were down only 1 percent for the year through October from the same period in 2014.

The past nine months saw flat volumes relative to the same time frame in 2014.

“Average mileage of used Class 8 trucks prolonged its diamond-in-the-rough status in October, dropping 2 percent month-to-month and 11percent year-to-year,” said Steve Tam, ACT’s vice president-commercial vehicle sector. “We expect the year-to-date mileage numbers, now 9 percent lower than 2014, to remain low, as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn and as new truck buyers shorten their trade cycles. Conversely, the average age of U.S. Class 8 used trucks sold in October could not have been more mixed. Age fell to 90 months, a 3 percent month-to-month improvement. Compared to October 2014, trucks were 2 percent older, while age remained relatively flat year-to-date. Additionally, average prices climbed 4 percent month-to-month, holding onto a 1percent year-to-date gain for the third consecutive month.”

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