ACT Research: Used Truck Prices Rose 9% YTD in September; Growth Is Expected to Slow
OCT 29, 2018 - 6:25 am
The average price of total used Class 8 trucks in September rose 3% month over month and fared even better, up 9% year to date, when compared to the first nine months of 2017, 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 rose 9% year over year, while average mileage dropped 1% and average age declined 3% from a year ago. When compared shorter term, same dealer sales volumes fell 9% month over month, after reporting 17% month-over-month growth in August.
“Dealers are reporting that used truck sales are very strong, with more demand than available trucks,” said Steve Tam, vice president at ACT Research. “Finding used trucks to sell has dealers searching hard and paying more for trucks than what would normally be expected. Additionally, most dealers are keeping an eye on new truck orders and watching anticipated trades to understand the dynamics that can impact what the units can be sold for and still make a profit.”
Analysis of the individual market segments indicated consistent short-term results, but mixed ones when making longer-term comparisons.
Tam explained, “The retail, auction, and wholesale channels were all down month-over-month, but longer-term, retail and wholesale markets recorded gains of 10% and 17%, respectively, while the auction market fell 20% year-over-year.”
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