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ACT Research: Used Truck Prices Rose 9% YTD; Growth Expected to Slow

October 26, 2018, 07:05 AM
Filed Under: Trucking

The average price of total used Class 8 trucks in September rose 3 percent month-over-month and fared even better, up 9 percent year-to-date, when compared to the first nine months of 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 9 percent year-over-year, while average mileage dropped 1 percent and average age declined 3 percent from a year ago. When compared shorter term, same dealer sales volumes fell 9 percent month-over-month, after reporting 17 percent month-over-month growth in August.

“Dealers are reporting that used truck sales are very strong, with more demand than available trucks,” said Steve Tam, Vice President at ACT Research. “Finding used trucks to sell has dealers searching hard and paying more for trucks than what would normally be expected. Additionally, most dealers are keeping an eye on new truck orders and watching anticipated trades to understand the dynamics that can impact what the units can be sold for and still make a profit.”

Analysis of the individual market segments indicated consistent short-term results, but mixed ones when making longer-term comparisons.

“The retail, auction and wholesale channels were all down month-over-month, but longer-term, retail and wholesale markets recorded gains of 10 percent and 17 percent, respectively, while the auction market fell 20 percent year-over-year,” Tam explained.

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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