Preliminary used Class 8 volumes (same dealer sales) jumped 25% month-over-month in March, following a modest decline in February, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.
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).
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