Used Class 8 truck same dealer sales volumes took a steep downward turn in May, falling by double-digit percentages month over month and year over year.
However, year-to-date volumes declined by a smaller percentage, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“May Class 8 used truck volumes fell by 18 percent month over month and 10 percent year over year,” said Steve Tam, ACT’s vice president of the commercial vehicle sector. He said year-to-date declines were less pronounced — down 5 percent from May 2015.
“A portion of the decline can be attributed to the usual seasonal softness as well as some to a possible shift in the seasonal buying pattern,” Tam said. “All three market segments saw declines, with auction and wholesale hit the hardest.”
He added, “Dealers are reporting that used truck inventories continue to be high and are causing used truck prices to continue falling. The average price of used Class 8 trucks remained flat month-over-month, while average age climbed in May and mileage improved, dropping month-over-month, year-over-year, and year-to-date.”
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).