Keeping with the flattening trend seen in age and mileage, average price of used Class 8 trucks experienced a leveling off in May compared to April. However, year to date prices were up 8% from last year, with gains in line for ACT’s expectations of 5-10% growth in 2015.
Total reported volumes of used Class 8 trucks fell to 2,496 units in May, down 11% month-over-month, but up 3% year-over-year, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“Volume softening can be seen in the retail and wholesale markets, with month-over-month declines of 12% and 14%, respectively,” said Steve Tam, Vice President-Commercial Vehicle Sector with ACT. “Auction transactions saw a 9% increase month-over-month, 8% above volumes from May 2014.” Tam added, “Our guidance for full year 2015 sales remains unchanged.”
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.
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