ACT Research: Used Class 8 Volumes Increase 5% M/M, Drop 25% Y/Y in September
OCT 18, 2021 - 6:09 am
According to the latest preliminary release of ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks report, used Class 8 volumes (same dealer sales) increased 5% month over month but dropped 25% year over year in September. Through the first nine months of the year, activity was 3% higher compared with the same period a year ago.
Other data released in ACT Research’s preliminary report included month-over-month comparisons for September 2021, which showed that average prices rose 5% as average miles gained 3% and age fell 4% compared with August. Compared with September of 2020, average prices were 73% higher, with average miles down 1% and age up 3%. On a year-to-date basis, average prices were 48% above year-ago levels for the first nine months of 2020, with average miles down 3% and age 1% lower on a year-to-date basis.
“Preliminary same dealer sales bounced back in September but are lagging behind September 2020,” Steve Tam, vice president at ACT Research, said. “The atypical sequential gain was insufficient to stop the longer-term slide, which has trimmed YTD growth.”
Regarding the impact of supply chain constraints on the U.S. used truck market, Tam said, “The well-publicized, ongoing supply chain concerns are having a very real and tangible impact on the flow of trades into the secondary market, severely limiting used truck sales at a time when demand is through the roof. And while no one knows for certain when the constraints will be relieved, it is not likely to happen soon or suddenly, leaving sufficient time to adjust. Because the law of supply and demand has not and cannot be repealed, used truck prices are left with no alternative but to continue climbing. And that is exactly what they did in September.”
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