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June Used Truck Volumes Up YTD, Average Price, Miles and Age Down

July 30, 2020, 06:00 AM
Filed Under: Trucking

According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 same dealer sales volumes were up 6% year-to-date against the first half of 2019, with average price, miles and age all below June 2019 ytd rates, down 15%, 2%, and 7%, respectively. Near term, the report also indicated that used Class 8 sales volumes rose 50% sequentially, with average price down 1% month-over-month, average miles up 1% month-over-month, and average age flat compared to May.

The report from ACT 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). This report is utilized by those throughout the industry, including commercial vehicle dealers, to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.

“Despite the numbers above, some dealers reported that used truck sales have slowed and continue to be at a lower level than last year and pre-COVID-19,” said Steve Tam, Vice President at ACT Research. He continued, “Used trucks were oversupplied before and have been since late 2019. That said, and not surprisingly, some dealers are reporting stronger sales and better customer interest in the last 30 days, while another contingent of dealers is reporting very slow market conditions.” Tam concluded, “Stories have surfaced that some trucks selling at auction are bringing better prices than expected, but auctions can be deceptive, as prices via this channel can be higher or lower than expected, depending on who attends any given sale.”

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