Used Class 8 truck metrics continued to be mixed in February, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“February Class 8 used truck volumes appeared to be getting an early jump on spring, rising 6 percent year over year,” said Steve Tam, ACT’s vice president of the commercial vehicle sector. “This, however, translates to a 7 percent year to date contraction compared to the first two months of 2015.
“Dealers continue to report falling used truck values and slower than desired sales,” added Tam.
The current state of the used truck market should not surprise anyone due to the large number of new trucks sold and the resulting trades over the last three years.
“Average mileage of used Class 8 trucks in February fell 3 percent month over month, breaking a streak of four consecutive monthly increases, and we expect YTD mileage numbers to remain lower in 2016 as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn.”