ACT Research: Used Truck Prices Rose 2% M/M in February; Sales Fell 7%
APR 2, 2019 - 6:40 am
The average price of total used Class 8 trucks in February was up 2% month-over-month, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. The report also indicated used Class 8 same dealer sales volumes fell 7% m/m, but dropped 20% when compared to February 2018. On a month-over-month basis, average mileage was flat, while average age was down 2%.
“Despite reports from some dealers that the used truck market is slowing slightly, most are reporting that the market continues to be very strong,” said Steve Tam, vice president at ACT Research. He continued, “The biggest issue most truck dealers are facing is finding enough used trucks to sell, with prices still strong, even higher than what would be expected for trucks of given ages and miles, fueled by very strong demand and a supply that can’t keep pace.”
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).
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