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ACT Research: March Used Class 8 Sales Volumes Rose 25% Y/Y

April 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 volumes (same dealer sales) grew for all time periods, up 28 percent sequentially, 25 percent higher year over year and 13 percent more on a year-to-date basis. Average prices were 6 percent higher compared to February and 20 percent more expensive than in March of 2020, while average miles dropped 2 percent month/month and year/year. Average age was flat for all three time periods.

“March used Class 8 same dealer sales volumes recovered strongly from unseasonably bad winter weather in February,” said Steve Tam, Vice President at ACT Research. “Part of the gain may be seasonal, as March typically enjoys about a 13 percent seasonal bump from February. However, it appears that buyers continue to drain the supply of used truck inventory.”

Looking at the different sales channels for used Class 8 vehicles, Tam commented, “Channel results were oddly mixed, with auctions contracting across the board and retail sales surging for all time period comparisons. Wholesale transactions improved both month/month and year/year, but still lag on a year-to-date basis.” He added, “It appears as though dealers may be getting more comfortable with having to pay more for trades as they compete for scarce units. Fortunately, their investments are not going unrewarded.”

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