Preliminary used Class 8 volumes (same dealer sales) increased 6% month-over-month in January, but longer-term, volumes dropped 4% year over year, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
According to Steve Tam, vice president at ACT Research, “Average price marked a fifth consecutive year-over-year loss, falling 13% in January, while average miles were flat short-term but 1% higher compared to January of 2019, keeping some pressure on values. Average age also remained flat at 84 months, which was 2% lower compared to the previous January.”
Commenting on individual market channel volumes, Tam noted, “The retail market channel declined in all three-time comparisons, down 1% month-over-month and 4% year-over-year, while the auction channel saw a short-term improvement, rising 21% month-over-month. The wholesale market improved for the second straight month, jumping 26% from December 2019’s 11% gain.”
Other data released in ACT’s preliminary report included month-over-month comparisons for January 2020, which showed that average prices dropped 2%, while average miles and age were unchanged from the last month of 2019.
ACT’s Classes 3-8 Used Truck Report 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). This report is utilized by those throughout the industry, including commercial vehicle dealers to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.
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