‘Fleet Managers Keeping Trucks Longer’ Says Great American
Published July 5, 2012
Analysts with Great American Group, a provider of asset disposition, valuation and appraisal services, said they have seen a continued decline in the availability of low-mileage used heavy duty trucks in May.
The analysts said, according to the American Truck Dealers and Used Truck associations, the average mileage for May was 560,000 miles, which is a historic high compared to a year ago, when the average mileage was 514,000 miles.
“Fleet managers are keeping trucks longer and prices for new trucks selling at $120,000 or more have slowed in 2012,” according to Michael A. Petruski, executive vice president and general manager of Great American Group’s machinery & equipment division. “The average sales price for a used truck in May was $41,000, down from April, but two percent higher than in May 2011. The average retail price for a sleeper was $48,800 in April 2012, compared to $44,100 in April 2011.”
Dealers also noted a shortage of lower-priced trucks in the $25,000 to $40,000 range, Great American said.