The average price of total used Class 8 trucks in June was virtually flat, gaining just 2% month-over-month. Longer term, prices were up 10% year-to-date and 6% higher compared to June 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 10% m/m, 26% y/y, and 18% year-to-date compared to the first six months of 2018. On a month-over-month basis, average mileage dropped 2%, while average age was down 5%.
“Dealers are reporting that used truck sales have slowed and appear to be slowing to even lower levels than what is currently being sold,” said Brian Armstrong, Information Systems Manager at ACT Research. He continued, “Many are reporting that there has been some downward adjustment of prices, but they are still good, and despite slower sales and lower truck values, sales remain strong and prices are higher for a given age and mileage level than what would normally be expected.”
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.