The average price of total used Class 8 trucks in May was virtually flat, dropping just 1% month-over-month. Longer term, prices were up 10% year-to-date and 6% higher compared to May of 2018, according the ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks.
The report also indicated used Class 8 same dealer sales volumes fell 8% m/m, 22% y/y, and 17% year-to-date compared to the first five months of 2018. On a month-over-month basis, average mileage dropped 1%, while average age was up 5%.
“Dealers are reporting that used truck prices are decreasing and trucks are selling for less than they have in some time,” said Steve Tam, vice president at ACT Research. “The market is spotty right now, with some sales representatives and dealers reporting they could sell more if they could get more trucks at the right price, while others are concerned about rising inventory levels. That said and despite falling prices in the last sixty days, as well as more trucks being shopped to more buyers, used truck prices continue to be higher than normal.”
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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