COLUMBUS, Ind. — Same-dealer sales volumes of used Class 8 trucks during November were down 22% from October, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. The report also showed month-over-month declines for the vehicles’ average miles (down 2%) and age (down 3%).
Longer term, however, same-dealer sales volumes were up 21% year-to-date against the first 11 months of 2019, with average price, miles and age all below figures for November 2019 (down 10%, 3%, and 8%, respectively).
“Conversations with dealers over the past month have ranged from the current strong market to already looking ahead in an effort to determine when volumes and prices will start moving in the other direction. For now, most concur that sales are and will remain strong into 2021,” said Steve Tam, vice president of ACT Research.
“Perhaps in anticipation of slowing year-end and winter sales, the number of units listed for sale has fallen to its lowest level in quite some time, and needless to say, this is causing some dealers concern, as they feel they are missing sales due to the lack of sufficient inventory,” he continued. “However, as is often the case, not all dealers are seeing the market the same. Wholesalers, and auctions to a lesser degree, are having to work harder in today’s tight market.”
ACT’s report provides data on the average selling price, miles and age of used Class 8 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).