ACT: Used Truck Prices Strong in May, Equipment Supply Remains Tight
JUL 2, 2018 - 2:45 pm
Used truck sales volumes rose 12% on a year-to-date basis compared to the same period in 2017, according to ACT Research. However, following flat volumes in April, the 3% month-over-month decline in May was not unexpected, as historical data indicates that used truck sales volumes usually dip in late spring.
“Dealers are reporting that used truck sales are very good, but some are reporting difficulties finding enough trucks to meet demand,” said Brian Armstrong, information systems manager at ACT Research. “As the used truck market stays strong, many fleets opt to sell their own used trucks themselves, since they can make more money that way, rather than by trading the trucks.”
Individual market segments yielded mixed results in May.
“The auction and wholesale market segments fell 15% and 10%, respectively month-over-month, while the retail sector improved 1%,” Armstrong said. “On a year-over-year basis, however, the retail and wholesale markets were up 18% and 14%, respectively, while the auction market fell 12%. Looking forward, we expect full-year totals to remain at or near current levels.”
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