COLUMBUS, IN – Preliminary used Class 8 volumes (same dealer sales) increased 6% month-over-month in 2020’s first month, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research, but longer-term, volumes dropped 4% compared to January of 2019.
Other data released in ACT’s preliminary report included month-over-month comparisons for January 2020, which showed that average prices dropped 2%, while average miles and age were unchanged from the last month 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, “Average price marked a fifth consecutive year-over-year loss, falling 13% in January, while average miles were flat short-term but 1% higher compared to January of 2019, keeping some pressure on values.” He continued, “Average age also remained flat at 84 months, which was 2% lower compared to the previous January.”
Commenting on individual market channel volumes, Tam noted, “The retail market channel declined in all three time comparisons, down 1% month-over-month and 4% year-over-year, while the auction channel saw a short-term improvement, rising 21% month-over-month. The wholesale market improved for the second straight month, jumping 26% from December 2019’s 11% gain.”
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.
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