Preliminary used Class 8 volumes (same dealer sales) declined moderately in February, falling 5% m/m and erasing a portion of January’s 10% improvement, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. However, the report indicated that longer-term comparisons yielded a 20% decline compared to February 2018.
Other data released in ACT’s preliminary report included year-over-year comparisons for February 2019, which showed that average prices rose 15%, while average miles contracted 5%, and average age was 3% higher.
According to Steve Tam, Vice President at ACT Research, “Generally, low inventory and strong demand increase price, while higher supply and softer demand tend to drive prices lower. The current pricing environment and dealer commentary suggest inventory remains one of, if not the main, limiting factor inhibiting sales volumes.”
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).
ACT’s 60th seminar is scheduled for March 25-27, 2019, and will feature a trucker/fleet panel, as well as discussions on near-term demand of commercial vehicles and the impacts of emerging technologies on change in the North American commercial vehicle industry.