The report also indicated used Class 8 same dealer sales volumes rose 25% month-over-month, but were 14% lower compared to March 2018. On a month-over-month basis, average mileage increased 2%, while average age grew 3%.
“Most dealers are reporting demand for used trucks continues to be very strong and the market does not have enough trucks to meet demand,” said Steve Tam, vice president at ACT Research. “Despite slowing freight growth and declining freight rates, interest from both small fleets and owner operators remains solid. For the time being, truckers are chasing waning incremental profit opportunities. However, that door is closing, confirming the impending approach of the down cycle.”
The State of the Industry 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).
Uncertainty has been the only constant over the last two years. During this time, the vendor finance world has been shaken up by many challenges in the economy, like supply chain shortages, inflation, the COVID-19 pandemic, a continually evolving market... read more
Nature abhors a vacuum. Equipment finance abhors bankruptcy. Whether in securitized or large, single-asset financings, financiers structure transactions to be “bankruptcy remote.” This article will discuss a December 2021 bankruptcy court bench ruling that found certain protective provisions to be... read more