ACT Research: September Used Truck Volumes Remain Up YTD
OCT 28, 2020 - 7:30 am
According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks report published by ACT Research, used Class 8 same dealer sales volumes through September were up 24% year to date compared with the first nine months of 2019, with average price, miles and age down 14%, 2% and 9%, respectively, compared with September 2019 year-to-date rates. Near term, the report also indicated that used Class 8 sales volumes rose 3% sequentially, with average price rising 2% month over month. Average miles and age were both flat compared with August.
The report from ACT 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, including Freightliner (Daimler), Kenworth and Peterbilt (Paccar), International (Navistar), and Volvo and Mack (Volvo).
“Input from dealers with whom we communicated over the past month confirms that the recovery in the market remains on track, though it is showing some signs of slowing,” Steve Tam, vice president at ACT Research, said. “Surprisingly bullish new truck buyers and used truck customers showing a marked increase in interest are taking advantage of situational circumstances. At the beginning of the pandemic, the industry cut loose more than 100,000 for-hire truck drivers, and because the overwhelming majority of them have yet to return to work, capacity is artificially being squeezed; there is too much freight from consumers’ transition from services to goods but not enough drivers.”
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