January Used Class 8 Sales and Prices Down, Averages Miles and Age Rise
MAR 5, 2021 - 6:48 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) and average sale prices fell sequentially in January, down 7% and 6% month over month, respectively. On the other hand, average miles were up 4% month over month and average age was up 3% from December. Longer term, same dealer sales volumes were up 19% year over year against January of 2020, while average prices were virtually flat with a 1% year-over-year contraction. Average miles changed by a similar amount in the opposite direction, up just 1% year over year, and average age was 2% lower compared with January 2020.
“Many of the conversations we had with dealers since last month’s publication focused on the weather rather than the market,” Steve Tam, vice president at ACT Research, said. “While it is normal for sales to be below average in February, the severe winter storms that blasted much of the country in February made selling used trucks more of a challenge than it usually is during the month. Aside from the weather, the tone remains positive, with observations that all market segments seem to be doing well.”
Looking at the different sales channels for used Class 8 vehicles, Tam said, “Channel results were uniformly negative in the short term but mixed for longer-term time period comparisons, with retail sales making progress but auction and wholesale activity lower than a year ago.”
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