COLUMBUS, Ind. – After an anomalous sequential gain in October, used Class 8 same dealer sales volumes returned to trend in November, falling 35% 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, sales were down 9% year-over-year and 16% year-to-date compared to the first 11 months of 2018. The report also indicated used Class 8 average miles decreased month-over-month, down 5%, and were up a mere 1% year-to-date, while average age rose 3% compared to October and 5% on a year-to-date basis. Average price also grew 5% month-over-month, while flat year-to-date.
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 – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers, to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.
“Dealers are reporting used truck sales are lagging, inventory is building, prices are falling, and the used truck market remains a buyer’s market,” said Steve Tam, vice president at ACT Research. He continued, “While all of this is not welcome news for finance companies, truckers trading trucks, truck OEMs or dealers, it is good news for people who are buying trucks. Customers are finding that there are bargains available for all makes and models of used trucks, and there are some fantastic buys.”
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies.
For more information, visit www.actresearch.net.
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