Used Class 8 Truck Orders Take Another Tumble But Prices Holding Steady
Columbus, IN – Used Class 8 truck prices held steady in June while volumes took a tumble again, according to a new report by trucking industry analysts, ACT Research.
In ACT’s latest release of its State of the Industry: U.S. Classes 3-8 Used Trucks report, data shows the average price of total used Class 8 trucks in June was virtually flat, gaining just 2% month-over-month.
However, in the longer term, prices were up 10% year-to-date and 6% higher compared to June of 2018.
The report also indicated used Class 8 same dealer sales volumes fell 10% m/m, 26% y/y, and 18% year-to-date compared to the first six months of 2018.
On a month-over-month basis, average mileage dropped 2%, while average age was down 5%.
“Dealers are reporting that used truck sales have slowed and appear to be slowing to even lower levels than what is currently being sold,” said Brian Armstrong, Information Systems Manager at ACT Research.
Further, Armstrong commented, “Many are reporting that there has been some downward adjustment of prices, but they are still good, and despite slower sales and lower truck values, sales remain strong and prices are higher for a given age and mileage level than what would normally be expected.”