ACT Research: Used Truck Prices Up 2% M/M, 10% YTD
JUL 30, 2019 - 6:15 am
The average price of total used Class 8 trucks in June was virtually flat, gaining just 2% month-over-month. Longer term, prices were up 10% year-to-date and 6% higher compared to June of 2018, 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 10% m/m, 26% y/y, and 18% year-to-date compared to the first six months of 2018. On a month-over-month basis, average mileage dropped 2%, while average age was down 5%.
“Dealers are reporting that used truck sales have slowed and appear to be slowing to even lower levels than what is currently being sold,” said Brian Armstrong, information systems manager at ACT Research.
He continued, “Many are reporting that there has been some downward adjustment of prices, but they are still good, and despite slower sales and lower truck values, sales remain strong and prices are higher for a given age and mileage level than what would normally be expected.”
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).
For industries that depend on exhibitor trade shows, conventions and in-person meetings for networking, COVID-19 has completely disrupted the landscape, posing challenges to those who lean on and put dollars into large gatherings. Important conversations, business development and the transfer... read more
By the end of 2019, there were 279.6 million vehicles operating on roads nationwide. Of these, government agencies operated nearly 1.2 million vehicles, as reported in the most recent Bureau of Transportation Statistics Report . The U.S. federal government operates... read more