Preliminary used Class 8 volumes (same dealer sales) fell 2% month-over-month in July, the fourth consecutive sequential drop, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Additionally, the report indicated that longer-term comparisons yielded a 22% decline compared to July 2018, as well as a year-to-date drop of 18%.
Other data released in ACT’s preliminary report included sequential comparisons for July 2019, which showed that average prices fell 4%, while average miles climbed 2%, and average age was up 4%.
According to Steve Tam, Vice President at ACT Research, “Used truck prices are the hottest topic in the industry right now.” He continued, “Many dealers are experiencing significant softening in prices, but the erosion is not uniform.” Tam added, “Depending on a host of factors, experiences vary and a few factors that impact prices include customer, equipment specifications, location, and vehicle condition.”
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 Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasting services for the North American 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. More information can be found at www.actresearch.net.