February Used Class 8 Sales Volumes Fall, While Average Price, Miles and Age Rise
MAR 30, 2021 - 6:24 am
According to the latest release of ACT Research’s State of the Industry: U.S. Classes 3-8 Used Trucks report, used Class 8 volumes (same dealer sales) fell 7% month over month in February, while average sale price, miles and age were all higher than in January, rising 4%, 2% and 1%, respectively. Longer term, same dealer sales volumes dropped 5% year over year compared with February 2020, while average price was 18% higher, average miles were 1% lower and average age was flat on a year-over-year basis.
“Used Class 8 same dealer sales volumes suffered from unseasonably bad winter weather and increasingly constrained inventory in February,” Steve Tam, vice president at ACT Research, said. “While January holds the dubious distinction of being the seasonally weakest month of the year, sales normally pick up about 25% [month over month] in February.”
Looking at the different sales channels for used Class 8 vehicles, Tam said, “Channel results were oddly mixed, with auctions outperforming in the short term but negative longer term. Retail sales were unfavorable [month over month], but showed gains both [year over year] and [year to date]. Not surprisingly, wholesale transactions were lower across all three time period comparisons, as dealers compete for scarce units, resulting in rapidly rising prices.”
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