ACT: Used Truck Prices Up 9% YTD in October, Volumes Up 11% YTD
NOV 29, 2018 - 6:35 am
The average price of total used Class 8 trucks in October fell 3% month-over-month, but rose 11% year over year and 9% year to date, when compared to the first 10 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 11% year-to-date, while average mileage was flat and average age declined 4% from a year ago. When compared shorter term, same dealer sales volumes rose 2% month-over-month, after reporting a 9% month-over-month drop in September.
“We’re seeing a very positive trend, with more activity on late model aerodynamic sleepers than was expected, and wholesalers and used truck dealers are working harder to find used trucks that are priced ‘right’,” said Brian Armstrong, information systems manager at ACT Research. He continued, “New trucks continue to get more expensive due to inflation, higher content, and advanced technologies, making used units more attractive and a benefit for those customers preferring less technology on their trucks.”
Analysis of the individual market segments continue to indicate mixed results. Armstrong explained, “Compared to last year, retail and auction markets recorded year-over-year gains of 8% and 1%, respectively, but the wholesale market recorded a 20% loss. However, all three channels were in positive territory on a year-to-date basis.”
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).
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