ACT Research said used Class 8 truck metrics continued to be mixed in October, with volumes shrinking 3 percent month over month, despite longer-term comparisons being stable.
Volumes are down only one percent year over year, and the past nine months have been flat compared to the same period last year, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT.
“Average mileage of used Class 8 trucks prolonged its diamond-in-the-rough status in October, dropping 2 percent month over month and 11 percent year over year,” said Steve Tam, ACT’s vice president of the commercial vehicle sector.
“We expect the year-to-date mileage numbers — now 9 percent lower than 2014 — to remain low as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn and as new truck buyers shorten their trade cycles.
“Conversely, the average age of U.S. Class 8 used trucks sold in October could not have been more mixed. Age fell to 90 months, a 3 percent month over month improvement. Compared to October 2014, trucks were 2 percent older, while age remained relatively flat year to date. Additionally, average prices climbed 4 percent month over month, holding onto a 1 percent year to date gain for the third consecutive month.”
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).