According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 same dealer sales volumes improved 7% month-over-month in December, but longer-term sales were down 3% year-over-year compared to December 2018, and full-year 2019 sales declined 15% compared to 2018. The report also indicated used Class 8 average price for 2019 decreased 7% versus the previous year, while average miles and age both increased, up 4% and 8%, respectively.
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). 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.
“Dealers are reporting used truck sales have slowed and inventory levels are building, particularly with late-model aerodynamic sleepers,” said Steve Tam, Vice President at ACT Research. He continued, “The price depreciation is largely the result of inventories that have grown due to more trades coming to dealers, slowing freight, and the cyclical nature of truck sales. Meanwhile, vocational truck sales are strong and there is money to be made, if inventory can be found and bought at the ‘right’ price.”
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.