ACT: October Class 8 Used Truck Volumes Off M/M & Y/Y
NOV 30, 2015 - 7:51 am
According to ACT Research’s U.S. Classes 3-8 Used Trucks report, October used class 8 truck volumes shrank 3% month-over-month and 1% year-over-year. ACT also noted that the last nine months have been relatively flat in comparison to the same period in 2014.
“Average mileage of used Class 8 trucks prolonged its diamond-in-the-rough status in October, dropping 2% month-over-month and 11% year-over-year. We expect the year-to-date mileage numbers, now 9% lower than 2014, to remain low, as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn and as new truck buyers shorten their trade cycles,” said Steve Tam, ACT’s vice president of the Commercial Vehicle Sector.
“Conversely, the average age of U.S. Class 8 used trucks sold in October could not have been more mixed. Age fell to 90 months, a 3% month-over-month improvement,” Tam added. “Compared to October 2014, trucks were 2% older, while age remained relatively flat year-to-date. Additionally, average prices climbed 4% month-over-month, holding onto a 1% year-to-date gain for the third consecutive month.”
The report from ACT provides data on the average selling price, miles and age based on a sample of industry data.
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