YTD Used Class 8 Retail Sales, Average Price and Age Up Through November
DEC 17, 2021 - 5:51 am
According to preliminary data from ACT Research, used Class 8 retail volumes (same dealer sales) decreased 22% month over month and 23% year over year in November. However, through the first 11 months of the year, activity is 10% higher compared with the same period a year ago.
Other data released in ACT’s preliminary report included month-over-month comparisons for November 2021, which showed that average prices rose 11%, average miles dropped 3% and average age was flat compared with October. Compared with November 2020, average prices were 69% higher, with average miles and age greater by 3% and 8%, respectively. On a year-to-date basis, average prices were 40% above year-ago levels for the first 11 months of 2020, with average miles unchanged and age up 1% on a year-to-date basis.
“Preliminary same dealer sales moved deeper into negative territory in November. Historically, the sequential decline in November was very characteristic, as November is the second weakest sales month of the year,” Steve Tam, vice president at ACT Research, said. “Despite the current softness, sales continue to outperform on a [year-to-date] basis, now 10% higher with just one month remaining in the year. Even though inventory is tight, it has not stopped flowing. New truck activity continues to feed the seemingly unsatiable demand from owner/operators and fleets alike.
“As has been the case since late 2020, the industry’s inability to meet truckers’ equipment needs has resulted in unrelentless used truck price escalation. As we have posited for some time, increasingly difficult comparisons are shrinking long-term gains, and owing to expectations for more of the same as it relates to freight and equipment availability, prices are likely to continue climbing higher in the near term.”
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