COLUMBUS, Ind. — According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 same-dealer sales volumes were up 17% year to date against the first eight months of 2019, with average price, miles and age all below August 2019 year-to-date rates, down 15%, 1% and 8%, respectively. Near term, the report also indicated that used Class 8 sales volumes rose, up 1% sequentially, with average price rising 5% month over month. Average miles and age both fell compared to July, down 1% and 3%, respectively.
The report from ACT provides data on the average selling price, miles and age of used trucks 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).
“Used Class 8 same-dealer sales improvements continue to be attributed to the catch-up of weakness in late spring sales, as well as being driven by better-than-expected growth in freight,” said Steve Tam, vice president of ACT Research.
“That said, the remainder of the year continues to be overshadowed by uncertainty, as businesses evolve to new sales models and small truckers enter and leave the market,” he continued. “Based on conversations we have had with dealers this past month, it appears that the used truck market is coalescing, with a growing number of reports of increased interest, phone calls, floor traffic and — most importantly— steady sales. At its current level, there are numerous opportunities for buyers, including both truckers and truck dealers, to obtain quality trucks at very attractive price points.”