Preliminary used Class 8 volumes (same dealer sales) fell 5% month-over-month in April, following an uptick in March, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
Additionally, the report indicated that longer-term comparisons yielded a 13% decline compared to April 2018, as well as a year-to-date drop of 16%.
Other data released in ACT’s preliminary report included year-over-year comparisons for April 2019, which showed that average prices rose 14%, while average miles and age were relatively flat.
According to Steve Tam, vice president at ACT Research, “Recent conversations with market contact suggest dealers are very aware that conditions are changing. Auction and wholesale volumes, as well as pricing, are softening. Some used truck buyers and sellers are paying close attention, but others may be only casually aware of any looming concern. Most truckers have yet to make the leap, as signified by retail markets that are outperforming their dealer counterparts.”
ACT’s Classes 3-8 Used Truck Report provides data on the average selling price, mile, 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).
Being a broker is a lot like being a juggler in a circus, but instead of juggling rings, we juggle relationships. As brokers, we are the point of contact for everyone involved in the transaction, including the funder, the customer,... read more
What are the things you find most useful when working with funding sources? What do you find least useful? Paul Burnham: Funders, please let the TPO [third party originator] know how important they are to the organization. Answer the phone... read more