Used Class 8 same dealer sales volumes returned to a downward trajectory in September, falling 5% m/m and erasing a portion of August’s 9% improvement, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. Longer term, sales dropped 18% y/y and 19% ytd. The report also indicated used Class 8 average miles increased month-over-month, up 5%, and were unchanged year-to-date, while average age fell 3% compared to August but rose 4% on a year-to-date basis. Average price also shed 3% m/m, while growing 6% ytd.
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 continued declines in used truck prices and growing truck inventories,” said Steve Tam, Vice President at ACT Research. He continued, “Some truck dealers and truckers have been unpleasantly surprised that the rate of decline in truck prices has not slowed.” Tam concluded, “The silver lining to the softer used truck market is there are some bargains for savvy truckers and smart truck dealers now, compared to the overheated market we saw last year and earlier this year.”
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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