The average price of total used Class 8 trucks in April was up 6% month-over-month and 12% higher year-to-date, 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 6% m/m and were 15% lower compared to April 2018. On a month-over-month basis, average mileage dropped 2%, while average age was down 4%.
“While some dealers are reporting demand for used trucks continues to be strong and the market does not have enough trucks to meet demand, the frequency and degree of contrary reports is increasing,” said Steve Tam, Vice President at ACT Research. He continued, “Following several months of slowing freight and freight rate growth, it appears the used truck market is poised at an inflection point, and although April data does not necessarily reflect a turn in the market, comments and activity during May are presumed to be an indication of the slowdown.”
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’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.