The report also indicated that used Class 8 same dealer sales volumes fell 9% m/m, but rose 8% for full-year 2018. Average mileage was flat compared to 2017, while average age declined 3% in 2018.
“Dealers are reporting that used truck sales continue at a very high pace, with the only immediate dark clouds being that there are not enough trucks to meet demand,” said Steve Tam, vice president at ACT Research. “However, dealers are also cognizant of slowing freight growth and the subsequent dynamics expected to play out in the new truck market. Ultimately, the industry expects an abundance of inventory that will inevitably put downward pressure on prices.”
Analysis of the individual market segments continued to indicate mixed results. Tam explained, “The retail segment posted its first year-over-year decline since December 2016, but was up 13% year-to-date. On the other hand, the auction channel was up 8% year-over-year, but down 4% year-to-date. The wholesale segment dropped 30% year-over-year, remaining flat for full-year 2018.”
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 – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!
Being a leader in today’s equipment finance industry takes a sense of purpose, advocating for oneself and being flexible. Amy Gross, executive vice president of the commercial vendor and government divisions at Key Equipment Finance, says being a parent while... read more
Deborah Baker faced a dilemma the summer before she began college. She was all set to work alongside her best friend at Ponderosa Steakhouse when her mother, who worked for AT&T Capital, arranged a summer contracting position for her. Baker... read more