While the average age of Class 8 used trucks was flat in June and the average miles of sold used trucks slipped 2 percent month over month, the average sale price remained strong. Prices were up 3 percent year over year. They also rose 7 percent year to date, in line for ACT Research’s expectations of 5-10 percent growth in 2015.
Total reported volumes of used Class 8 trucks rose to 2,643 units in June, up 6 percent month-over-month, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“The used truck market continues to be strong, exhibiting high prices,” said Steve Tam, vice president of the commercial vehicle sector with ACT. “Volumes in the auction and wholesale markets indicated very strong sales with increases of 113 percent and 13 percent month over month, respectively.” Tam added, “The retail market, on the other hand, remained flat month-over-month, but our guidance for full year 2015 sales remains unchanged.”
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).
ACT is the worldwide leading 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.