ACT Research: Used Truck Prices Fell 1% M/M in July, Downward Pricing Pressure Expected as Year-End Nears

Posted on 27. Aug, 2018 by in Press Releases, Used Trucks

The average price of total used Class 8 trucks in July was virtually flat, down 1%, on a month-over-month basis, but fared better when compared to July 2017, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. The report also indicated used Class 8 same dealer sales volumes rose 12% year-over-year, while average mileage was unchanged and average age declined 5% when compared to the previous July. When compared shorter term, same dealer sales volumes fell 7% 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, Vice President at ACT Research. He continued, “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 explained, “Retail and auction markets declined 9% and 5%, respectively, on a month-over-month basis in July, while sales via the wholesale channel recorded a 1% month-over-month gain. However, when compared longer term, the retail and wholesale markets show year-over-year increases of 18% and 3%, respectively, but the auction channel was down 10% 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).