ACT Research data shows used prices inch up in August
ACT Research says the average price of total used Class 8 trucks was virtually flat in August, up just 1 percent on a month-over-month basis, but fared better when compared to August 2017, the company writes in its latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks.
The report also indicates used Class 8 same dealer sales volumes rose 19 percent year-over-year, while average mileage increased 4 percent and average age declined 3 percent from a year ago. When compared shorter term, same dealer sales volumes rose 17 percent month-over-month, ending a streak of three consecutive month-to-month declines, ACT Research says.
“Dealers are reporting that used truck sales continue to be better in terms of number of trucks sold and for pricing,” says Brian Armstrong, information systems manager. “So far, 2018 has seen very strong used truck pricing and insufficient used truck inventory to meet rising demand. This situation has led dealers to pay more for used trucks than what is considered normal.”
ACT Research adds individual market segments yielded mixed results last month.
Armstrong says, “Retail and wholesale channels were up month-over-month, 22 percent and 10 percent, respectively, while the auction channel fell 10 percent. On a year-over-year basis, retail rose 31 percent, but auction and wholesale markets fell, 14 percent and 2 percent, respectively. All three channels are in positive territory on a year-to-date basis.”