ACT: Used Truck Sales, Down 16% YTD, Return to Trend
DEC 24, 2019 - 6:53 am
After an anomalous sequential gain in October, used Class 8 same dealer sales volumes returned to trend in November, falling 35% month over month, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
Longer term, sales were down 9% year over year and 16% year to date compared to the first 11 months of 2018. The report also indicated used Class 8 average miles decreased month over month, down 5%, and were up a mere 1% year-to-date, while average age rose 3% compared to October and 5% on a year-to-date basis. Average price also grew 5% month over month, while flat year to date.
“Dealers are reporting used truck sales are lagging, inventory is building, prices are falling, and the used truck market remains a buyer’s market,” said Steve Tam, vice president at ACT Research. “While all of this is not welcome news for finance companies, truckers trading trucks, truck OEMs or dealers, it is good news for people who are buying trucks. Customers are finding that there are bargains available for all makes and models of used trucks, and there are some fantastic buys.”
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). This report is utilized by those throughout the industry, including commercial vehicle dealers, to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.
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