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ACT Research: Used Truck Prices Stay Strong, Equipment Supply Still Tight

July 26, 2018, 07:20 AM
Filed Under: Trucking

The average price of total used Class 8 trucks in June was flat on a month-over-month basis, but fared better, rising 15 percent, when compared to June 2017, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. The report also indicated used Class 8 same dealer sales volumes rose 13 percent year-over-year, while average mileage fell 1 percent and average age declined 2 percent when compared to the previous June.

“Dealers are reporting that used truck sales are very strong, which is good news for dealers, OEMs, finance companies and truckers trading for new trucks,” said Steve Tam, Vice President at ACT Research. “The problem is the used truck market is so strong that truck dealers are struggling to find enough trucks to cover the demand they have. As the year progresses, an increasing supply, due to increasing new truck sales, along with a softening in demand will likely lead to slowing price appreciation.”

Individual market segments yielded mixed results last month.

“Retail and wholesale markets declined 5 percent and 25 percent, respectively, on a month-over-month basis in June, while sales via auctions recorded a 23 percent month-over-month gain,” Tam said. “However, when compared longer term, the auction and retail markets show year-over-year increases of 41 percent and 23 percent, respectively, but the wholesale channel was down 18 percent compared to June 2017.”

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).

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