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

Posted by Jennifer McNealy on Jul 14, 2020 3:15:00 PM

Preliminary used Class 8 volumes (same dealer sales) grew 54% month-over-month in June, 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 6% compared to June 2019, but were flat when measured against the first six months of last year.

Other data released in ACT’s preliminary report included month-over-month comparisons for June 2020, which showed that average prices were down 4%, while average miles and average age each increased, up 4% and 1%, respectively, compared to May. Year-to-date, average price, miles, and age were all lower, down 13%, 3%, and 8%, respectively, compared to the first six months of 2019.

Additionally, ACT Research has created an easily accessible COVID-19 MARKET WATCH webpage to track noteworthy high frequency macroeconomic and transportation-specific market indicators, which can be found at https://pages.actresearch.net/covid-19.

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.

Used 08.15.20

According to Steve Tam, Vice President at ACT Research, “The fact that no one buys a truck that is not needed calls into question why so many used trucks are currently being sold, given all the negative news about the economy.” He continued, “The simple truth is that, fingers crossed, the worst of the global pandemic is behind us, and even though new cases are at or near record highs in the U.S. and deaths are on the rise, we are no longer in uncharted territory.” Tam concluded, “The first wave of COVID-19 came out of the blue, but now businesses are much more prepared to deal with the virus, and citizens of this country are nothing if not resourceful and ready to move past this disaster.”

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 63rd seminar is scheduled for August 11-13, 2020, and is being offered via livestream for those wishing to participate. Focused on the road to recovery from the COVID-19 pandemic, the event will feature dealer, alternative power, and economic panels, as well as discussions on near-term demand of North American commercial vehicle markets and the pending impact of alternative power on the market in the near future. Click here for seminar information.

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Get more information about ACT’s Used Truck reports.

Access information about other ACT Research products and services, click here.

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

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

Access In the News Page.

Topics: freight, 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

About ACT Research

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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