ACT: Used Class 8 Volumes Rise 46% Y/Y in August, Flat on M/M Basis
SEP 16, 2020 - 6:38 am
Preliminary used Class 8 volumes (same dealer sales) were flat month-over-month in August, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Longer-term, volumes rose 46% compared with August 2019 and were up 21% when measured against the first eight months of last year.
Other data released in ACT’s preliminary report included month-over-month comparisons for August 2020, which showed that average prices increased 7%, while average miles and average age each decreased, falling 2% and 3%, respectively, compared with July. Year-to-date average price, miles and age were all lower, falling 16%, 3% and 8%, respectively, compared with the first eight months 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, including Freightliner (Daimler), Kenworth and Peterbilt (Paccar), International (Navistar), and Volvo and Mack (Volvo).
“In aggregate, the used truck market continued to make gains compared to what happened last month,” Steve Tam, vice president at ACT Research, said. “While the near-term progress is encouraging, the tougher standard is how the current market stacks up against last year. As we have been expecting for some time, today’s trucks are not bringing the same money they were a year ago, and given everything that has happened in our economy in the past year, that comes as no surprise. The good news is that even if prices remain where they are now, they will continue to make improvements relative to last year, becoming less negative as comparisons become easier.”
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