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ACT Research: U.S. Used Truck Sales Volumes Lag in April

May 17, 2022, 07:10 AM
Filed Under: Trucking

Preliminary used Class 8 volumes (same dealer sales) fell 40 percent month-over-month, and were 33 percent lower compared to April of 2021, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.

Other data released in ACT’s preliminary report included month-over-month comparisons for April 2022, which showed that the average retail price rose 10 percent, as average miles and age were both lower, down 5 percent and 6 percent, respectively, from March. Compared to April of 2021, the average retail price was 77 percent higher, with average miles and age greater by 3 percent and 7 percent, respectively.

ACT’s Classes 3-8 Used Truck Report provides data on the average selling price, miles, and age based on a sample of industry data.

Steve Tam, Vice President at ACT Research, said, “In the inventory-challenged world used truck buyers and sellers find themselves these days, it should come as no surprise that sales volumes fell in April.” He said, “March’s gains (+53 percent) came on the heels of the strong December new truck sales market (+49 percent). Looking back at January new truck sales (-39 percent), is it any wonder that April preliminary used truck sales were off a corresponding percentage (-40 percent)?”

Tam continued, “The preliminary average retail selling price for Class 8 trucks eked out another record in April, and prices were unaffected by miles and age, which were up for all-time period comparisons, yet another signal of the stale and lingering imbalance between supply and demand.”

He concluded, “Looking ahead, if April is not the peak for prices, then the zenith cannot be far off. Slowing freight and freight rates confirm the assertion.”

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