ACT: Used Class 8 Truck Prices Up Y/Y in February, Mileage Flat
MAR 27, 2018 - 10:07 am
According to ACT Research, total Class 8 used truck prices rose 3% year over year in February but dipped 2% month over month. Meanwhile, average mileage was flat compared to last February and the average age was lower on a year-over-year basis.
“Dealers are reporting that used truck sales have strengthened,” said Steve Tam, vice president at ACT Research. “Dealers are working harder to find used trucks to sell and the dynamics of the market have moved from an oversupplied market a year ago to one now in better shape.”
Individual market segments yielded mixed results in February.
“The retail channel volume dropped 3% month over month in February, while the auction and wholesale segments both recorded increases of 9% compared to the previous month,” Tam said. “Looking forward, we expect volume to continue gaining momentum as we approach spring, supported by seasonal strength, and for full-year totals to remain at or near current levels.”
Transitioning from a third-party originator (TPO) to closing deals on your own balance sheet can be a risky endeavor without the right tools, network and drive. Professionals within this industry make the switch for a multitude of reasons, sometimes meeting... read more
Steve O’Leary and Tim Conway, now CEO/president and chairman of Clarus Capital, respectively, began their business partnership at NewStar Financial, where Conway was founder and CEO and O’Leary was the architect of the company’s equipment finance business. O’Leary enjoyed his... read more