The average price of total used Class 8 trucks in January was up 10% year-over-year, when compared to January of 2018, 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 that used Class 8 same dealer sales volumes fell 12% year-over-year, but rose 10% when compared to December of 2018. On a year-over-year basis, average mileage rose slightly, up 2%, while average age was up 8% from a year ago.
“Dealers are reporting that used truck sales continue to blast along at a very high pace, with the only immediate dark cloud being that there are not enough trucks to meet demand,” said Steve Tam, vice president at ACT Research. “Most dealers are reporting a supply shortage and are spending an inordinate amount of time trying to find used trucks to sell. At the same time, dealers are cognizant of the impending increase in trucks that will eventually make their way to the secondary market as freight growth slows.”
Analysis of the individual market segments continue to indicate mixed results. Tam explained, “The retail and auction channels were up 13% and 10% month-over-month, respectively, while the wholesale market fell 3%. Long-term, the retail and wholesale markets were down 7% and 33% year-over-year, respectively. The auction market was up 23%. We expect full-year 2019 sales volumes to decline 10% compared to 2018.”
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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