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ACT Research: Preliminary Used Class 8 Data for September Shows YTD Sales Up, With Average Price, Miles and Age All Lower

Posted by Jennifer McNealy on Oct 15, 2020 1:30:00 PM

Preliminary used Class 8 volumes (same dealer sales) were virtually flat month-over-month in September, up just 1%, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Longer-term, volumes rose 51% compared to September 2019, and were up 21% when measured against the first nine months of last year.

Other data released in ACT’s preliminary report included month-over-month comparisons for September 2020, which showed that average prices increased 2%, while average miles rose 1% and average age was unchanged, compared to August. Year-to-date, average price, miles, and age were all lower, down 14%, 3%, and 8%, respectively, compared to the first nine months of 2019.

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. 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.

According to Steve Tam, Vice President at ACT Research, “Though expectations were tainted by COVID-19, the used truck market was in decline before that.” He continued, “Interestingly, it is how the economy is recovering from COVID-19 that seems to be driving the surprise gains in the used truck market.”

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Tam added, “Consumers have pivoted from spending on many services to spending more on goods, and that has led to a very strong freight market and tightening capacity.” He concluded, “Ultimately, this leads to solidification of used truck pricing and although not as good as it was last year, it leads us to say ‘better than expected’ in the used truck market, too.”

Additionally, ACT Research recently announced plans for a new multi-client study focusing on electrification of the commercial vehicle industry to be released in 2021. The scope of the study will include unit sales for the US and Canada, annually from 2020 to 2030, with single-year outlooks for 2035 and 2040. Class 8 truck and Classes 4-7 truck and bus segments will be considered, with additional segmentation encompassing step vans, conventional and low cab forward trucks, RV, school bus, yard spotter, transit bus categories, as well as the Class 8 straight, day cab, and sleeper subcategories. Our research will compare purchase and operational costs for diesel, battery, fuel cell, and hybrid powertrains in a rigorous comparative total cost of ownership (TCO) framework. It will also take into account concerns, such as infrastructure requirements and costs, regulation, and issues including maintenance, range, durability and vehicle and component replacement. For more details about how to participate in this study, including a full prospectus, contact Ian McGriff at imcgriff@actresearch.net or click here to let us know of your interest.

ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.

ACT’s 64th Seminar is scheduled for February 23-25, 2021. Focused on the continuous evolution and advancement of power and energy changes in the transportation and commercial vehicle markets, OUTLOOK Seminar 64 will feature key industry leaders such as Ryan Reed of Wabash National, John Bennett from Meritor, Lance Riegel of Marvin Johnson, and Dominick Beckman from Hino Motors. Look for more details on this event over the coming months and save the date for February’s event.. Click here for seminar information.

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Access more information about ACT’s Used Truck reports.

Get information about other ACT Research products and services.

Access September's State of the Industry: U.S. Classes 3-8 Used Trucks Press Release.

Access September's State of the Industry: U.S. Classes 3-8 Used Trucks Preliminary Press Release.

Access In the News Page.

Topics: freight rate, Press Releases, Used Trucks, medium duty truck, commercial vehicle sales data, truck market, truck freight, north american trucking, class 8 truck, american truck and trailer, commercial truck and trailer, transportation industry news, class trucks for sale, used commercial truck, trucking, used truck values commercial, heavy duty truck

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We're the leading publisher of industry data, market analysis, and economic forecasting services for the commercial vehicle and transportation industries.

2019 Lawrence R. Klein Award Winner: Most Accurate Economic Forecast 2015-2019

  Partner to LMC Automotive and the Chinese State Information Center

  Contributor to the Blue Chip Financial and Wall Street Journal Consensus Economic Forecast


 

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