Used Class 8 truck metrics were generally in line on a year-to-date basis, but all except volumes fell slightly when compared month over month and year over year.
Volumes dropped 7 percent month over month, but were up 2 percent year over year, while average mileage decreased 3 percent and 5 percent, respectively. The average age of U.S. Class 8 used trucks decreased to 91 months, while average prices slipped 1 percent year over year and 2 percent month over month — despite remaining strong at 5 percent year to date.
“Used truck sales remain strong and dealers are working very hard to find used truck inventory, but some downward adjustment of use truck prices is occurring,” said Steve Tam, ACT’s vice president of the commercial vehicle sector. “Volumes in the retail market posted weaker numbers in August, down 4 percent month over month. Auction and wholesale markets continued their downward tracks, decreasing 3 percent and 17 percent, respectively.”
The State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, 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 a 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.