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ACT Research: 2020 Closed with Used Class 8 Sales Volume Up

January 28, 2021, 07:00 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, average price and average age all rose month over month, up 13 percent, 3 percent and 1 percent, respectively, compared to November. Longer term, same dealer sales volumes were up 22 percent year-to-date against full-year 2019, with average price, miles and age all below December 2019 YTD rates, down 7 percent, 3 percent and 8 percent, 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,” said Steve Tam, Vice President at ACT Research. “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.”

Looking at the different sales channels for used Class 8 vehicles, Tam commented, “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.”

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.

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