Used Class 8 truck metrics continued to be mixed in January, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“Keeping with the seasonal trend of weak early-year sales, used Class 8 truck volume fell 25 percent month over month in January, an 18 percent year over year contraction,” said Steve Tam, ACT’s vice president of the commercial vehicle sector. “Total used truck Classes 3-8 sales were down 11 percent year over year compared to January 2015, with retail and wholesale markets declining, while the auction market posted a significant gain on a year-over-year basis,” added Tam.
Dealers have reported falling used truck values and increasing used truck inventory levels; supply is outpacing demand and pulling used truck prices down. Tam continued, “Average mileage of used Class 8 trucks in January was up 2 percent on a month over month basis, but remained lower year-over-year. Average age of used Class 8 trucks, on the other hand, rose sharply month-over-month, with a 4 percent increase when compared to January 2015.”