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October’s Used Class 8 Truck Sales Up 7% After September Decline

November 28, 2016 By: Trucking News Staff Tags: Fleet Management, News
October’s Used Class 8 Truck Sales Up 7% After September Decline

Used Class 8 truck same dealer sales increased in October, reversing the decline reported in September, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.

Month-to-month, volumes saw a 7 percent increase, which helped offset part of the 11 percent decline in September.

“Looking at the long term, volumes were also up 7 percent year-over-year compared to October 2015,” said Steve Tam, ACT’s vice president. He added, “Year-to-date totals are just 2 percent below the comparable time period in 2015.”

The current used truck market is favoring hesitant buyers, while dealers report low sales and declining prices. “Used trucks continue to be oversupplied, which is holding down prices,” said Tam. “Some buyers still have concerns about emissions systems and the costs of maintaining them, which is, in turn, hurting the sales of late model used trucks.”

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. These include Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).