However, the report indicated that longer-term comparisons yielded a 14% decline compared to March 2018.
Other data released in ACT’s preliminary report included year-over-year comparisons for March 2019, which showed that average prices rose 7%, while average miles contracted 2% and average age was 8% higher.
According to Steve Tam, vice president at ACT Research, “We continue to hear from dealers that the lack of inventory is a limiting factor inhibiting sales volumes, an observation corroborated by the current demand and pricing environment. Despite the impressive sequential increase, volumes remain well below last year’s year-to-date level.”
He continued, “It is important to note that slowing growth in the freight market is also a likely contributor to the lower sales. Truckers may be getting to the point where they have the trucks necessary to meet their needed freight demand.”
ACT’s Classes 3-8 Used Truck Report 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).
We have already started to see news reports on the connection between the pandemic and climate-related issues. Satellite images show a marked fall in global nitrogen dioxide levels as the slowdown in non-essential travel and industrial activity has improved the... read more
The CEMC New York Forum focused on the New Age of Customer Experience in Fintech, featuring visionary speakers who shared cases of digital transformation. We are living in the Age of the Customer, and technology is transforming the way lenders... read more