The average price of total used Class 8 trucks in May was virtually flat, dropping just 1% month-over-month. Longer term, prices were up 10% year-to-date and 6% higher compared to May of 2018, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. The report also indicated used Class 8 same dealer sales volumes fell 8% m/m, 22% y/y, and 17% year-to-date compared to the first five months of 2018. On a month-over-month basis, average mileage dropped 1%, while average age was up 5%.
“Dealers are reporting that used truck prices are decreasing and trucks are selling for less than they have in some time,” said Steve Tam, Vice President at ACT Research. He continued, “The market is spotty right now, with some sales representatives and dealers reporting they could sell more if they could get more trucks at the right price, while others are concerned about rising inventory levels. That said and despite falling prices in the last sixty days, as well as more trucks being shopped to more buyers, used truck prices continue to be higher than normal.”
The report from ACT 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.
ACT’s 61st seminar is scheduled for August 12-14, 2019, and will feature a dealer panel, as well as discussions on near-term demand of North American commercial vehicle markets and the impacts of tomorrow’s technical challenges. A global forecasting workshop is also being planned in conjunction with this semi-annual event. Click here for seminar information.