ACT Research: Used Class 8 Sales Volumes Rise 25% Y/Y in March
APR 28, 2021 - 6:45 am
According to the latest release of ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks report, used Class 8 volumes (same dealer sales) grew for all time periods in March, rising 28% sequentially, 25% year over year and 13% year to date. Average prices were 6% higher compared with February and 20% higher than in March of 2020, while average miles dropped 2% month over month and year over year. Average age was flat for sequential, year-over-year and year-to-date comparisons.
“March used Class 8 same dealer sales volumes recovered strongly from unseasonably bad winter weather in February,” Steve Tam, vice president at ACT Research, said. “Part of the gain may be seasonal, as March typically enjoys about a 13% seasonal bump from February. However, it appears that buyers continue to drain the supply of used truck inventory.”
Looking at the different sales channels for used Class 8 vehicles, Tam said, “Channel results were oddly mixed, with auctions contracting across the board and retail sales surging for all time period comparisons. Wholesale transactions improved both [month over month] and [year over year] but still lag on a [year-to-date] basis. It appears as though dealers may be getting more comfortable with having to pay more for trades as they compete for scarce units. Fortunately, their investments are not going unrewarded.”
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