ACT: November Used Class 8 Sales Drop 20% M/M Despite YTD Increase of 18%
DEC 16, 2020 - 6:02 am
Preliminary used Class 8 volumes (same dealer sales) dropped 20% month over month in November but rose 18% year to date compared with the first 11 months of 2019, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks from ACT Research. Compared with November of 2019, volumes gained 32%.
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 compared with October. Year to date, average price, miles and age were all lower, down 8%, 3% and 8%, respectively, compared with the first 11 months of 2019.
“Other than the preliminary used Class 8 sales volume contraction, there wasn’t much not to like about the used truck market in November,” Steve Tam, vice president at ACT Research, said. “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.
“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.”
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