ACT Research released a pair of trucking industry reports on Tuesday that show the number of used Class 8 commercial trucks available for sale were down for the year, while orders for new trailers were at their second-highest level ever last month.
While total reported volumes of used Class 8 trucks improved to 2,078 units in December — climbing by 8 percent month over month, they were down 5 percent for the year, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“For total 2014, used Class 8 truck volumes were down 5 percent, and average miles decreased by 2 percent, said Steve Tam, vice president of the commercial vehicle sector with ACT. “Pricing was up 18 percent, even though the average age rose by 2 percent. We look for pricing to continue its growth in 2015, but at a decreasing rate.”
The used tractor 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 OEM’s – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).
Meanwhile, a second report from ACT showed that nearly 44,000 net orders for trailers were posted in December, the second strongest month on record for the trailer industry. For all of 2014, net orders were 359,000, which was up nearly 55 percent over 2013.
“The industry order board has reached a level not seen in almost 20 years,” said Frank Maly, director of commercial vehicle transportation analysis and research at ACT. “The last four months of 2014 all rank in the top 10 net order months in history.
“As we look forward into 2015, strong orders, long backlogs, solid freight volumes, a healthy economic outlook, an old fleet, and rising trucker profitability have combined to lay the groundwork for the best trailer market since the late 1990s.”
ACT is a global publisher of new and used commercial vehicle industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China commercial vehicle market.