Additionally, the report indicated that longer-term comparisons yielded a 17% decline compared to September 2018, as well as a year-to-date drop of 19%, the 11th consecutive contraction for both time period comparisons.
Other data released in ACT’s preliminary report included sequential comparisons for September 2019, which showed that average prices and average age fell 3% each, while average miles climbed 5%.
According to Steve Tam, vice president at ACT Research, “September marks the first time since the fall of 2012 that the used truck industry has seen average prices fall month-over-month for three straight months. September also has the distinction of being the first time since mid-2017 that prices have fallen year-over-year for two consecutive months.”
Tam added, “From our perspective, there are two factors at work. Demand is falling, as evidenced by lower sales volumes, and supply is on the rise.”
ACT’s Classes 3-8 Used Truck Report provides data on the 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).
Monitor Suite members can download a copy of the 2023 Monitor 100 charts in PDF or Excel form here. This year’s Monitor 100 companies reported net assets of $555.9 billion, new business volume of $216.6 billion and 26,609 employees. The... read more
Whether it’s equipment finance or comedy writing, diversity of thought and diversity of input help us to connect the dots in new and interesting ways. Unconventional ideas can lead to breakthrough thinking and tangible value creation. Now, more than ever,... read more