COLUMBUS, Ind. — The average price of total used Class 8 trucks in July was virtually flat, down 1 percent, on a month-over-month basis, but fared better when compared to July 2017, according to the latest release of the ACT Research State of the Industry: U.S. Classes 3-8 Used Trucks.
The report also indicated used Class 8 same dealer sales volumes rose 12 percent year-over-year, while average mileage was unchanged and average age declined 5 percent when compared to the previous July.
When compared shorter term, same dealer sales volumes fell 7 percent month-over-month in July, their weakest month so far this year.
“Dealers are reporting that the used truck market is strong,” said Steve Tam, ACT Research vice president. “Dealers are having a hard time finding used trucks to sell, which is supporting used truck prices. The strong market has also been a boon to finance companies actively looking to finance used trucks.”
Individual market segments yielded mixed results last month. Tam said.
“Retail and auction markets declined 9 percent and 5 percent, respectively, on a month-over-month basis in July, while sales via the wholesale channel recorded a 1 percent month-over-month gain. However, when compared longer term, the retail and wholesale markets show year-over-year increases of 18 percent and 3 percent, respectively, but the auction channel was down 10 percent compared to July 2017.”
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, please go to http://www.actresearch.net.
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