COLUMBUS, Ind. — Preliminary data for November shows that same-dealer sales of used Class 8 trucks dropped 20% month over month. However, year-to-date figures show a more optimistic picture, with an increase of 18% compared to the first 11 months of 2019, according to ACT Research’s latest State of the Industry: U.S. Classes 3-8 Used Trucks report.
Other data released in ACT’s preliminary report included month-over-month comparisons for November 2020, which showed that average prices increased 9% while average miles dropped 2% and average age was 3% lower than October. Year to date, average price, miles and age were all lower, down 8%, 3% and 8%, respectively, compared to the first 11 months of 2019.
According to Steve Tam, Vice President at ACT Research, “Other than the preliminary used Class 8 sales volume contraction, there wasn’t much not to like about the used truck market in November,” said Steve Tam, vice president of ACT. “Our preliminary used truck dashboard revealed a lot of positive data, and the drop in sales was consistent with typical seasonality. That said, because of November’s softness, December volumes typically enjoy a strong sequential rebound.”
ACT’s Classes 3-8 Used Truck Report provides data on vehicles’ 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).
“Generally speaking, the freight markets are still quite robust, which bodes well for continued sales and price gains for the used truck industry. Capacity is still being constrained by drivers sidelined directly or indirectly by COVID-19,” Tam said.