Used Class 8 Sales Volume Up as Average Price, Miles, Age Fall at Close of 2020
JAN 28, 2021 - 6:55 am
According to ACT Research’s latest State of the Industry: U.S. Classes 3-8 Used Trucks report, used Class 8 same dealer sales volumes, average price and average age all rose month over month in December, rising 13%, 3% and 1%, respectively, compared with November. Longer term, 2020 same dealer sales volumes were up 22% year-to-date against full-year 2019, while average price, miles and age were all below December 2019 year-to-date rates, specifically falling 7%, 3% and 8%, respectively.
“Comments from dealers since last month’s publication continue to focus on how much better than expected the used truck market was in 2020, a theme that seems to resonate throughout not only the commercial vehicle industry but the broader economy as well,” Steve Tam, vice president at ACT Research, said. “Unfortunately, lackluster new truck sales conspired to choke the flow of equipment into the secondary market. Dealers continue to lament the lack of inventory as the main limiting factor to what could have been an even better year.
“Retail customers were largely absent in the first half of the year but came back with gusto in the second half. Conversely, auction and wholesale volumes started 2020 strong but waned as the year progressed. While the pattern was similar, auction ended in the red in 2020, while wholesale activity improved relative to 2019.”
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