COLUMBUS, Ind. — Class 8 same dealer used truck sales dropped by 17 percent last month following the unexpected climb in October, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“Seasonal weakness is not uncommon in early to middle fall,” said Steve Tam, vice president at ACT Research. “Some would argue this is because of buyers waiting for the more favorable pricing that sometimes occurs in December, becauseof dealers attempting to reduce inventory before year end.”
Despite the sequential decline, dealers are reporting that used truck sales have improved from early 2017 levels.
That said, the market continues to be negatively impacted by the large numbers of used late model aerodynamic sleepers in inventory that are pushing down prices.
“The good news is, buyers are more active now than a few months ago,” Tam said. “One issue impacting used truck sales is there is better communication about used truck prices than there was a few years ago.”
The average price of total reported used Class 8 trucks fell 3 percent month over month in November, but were 1 percent higher compared to last November.
“Year-to-date values continue to lag behind last year’s prices, down 6% compared to the comparable period from 2016,” Tam said.
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).
For subscription information to the full report go to www.actresearch.net.