ACT Research: Used Class 8 Dealer Sales Volume in H1/20 Down 6%
JUL 29, 2020 - 7:12 am
According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks report from ACT Research, used Class 8 same dealer sales volumes in the first half of 2020 were up 6% year to date against the first half of 2019, with average price down 15%, miles down 2% and age down 7% compared with June 2019 year-to-date rates. Near term, the report also indicated that used Class 8 sales volumes rose 50% sequentially, with average price down 1% month over month, average miles up 1% month over month and average age flat compared with May.
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).
“Despite the numbers above, some dealers reported that used truck sales have slowed and continue to be at a lower level than last year and pre-COVID-19,” Steve Tam, vice president at ACT Research, said. “Used trucks were oversupplied before and have been since late 2019. That said, and not surprisingly, some dealers are reporting stronger sales and better customer interest in the last 30 days, while another contingent of dealers is reporting very slow market conditions.
“Stories have surfaced that some trucks selling at auction are bringing better prices than expected, but auctions can be deceptive, as prices via this channel can be higher or lower than expected, depending on who attends any given sale.”
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