Though volumes of used Class 8 trucks ticked up 8% in March, volumes are 5% lower year-to-date compared to the same period in 2015, noted ACT Research in its latest market update.
Dealers also noted used Class 8 values are still falling, noted Steve Tam, vice president for ACT’s commercial vehicle sector, and they believe prices will continue to fall for some time to come.
“March Class 8 used truck volumes were up 8% month-over-month [but that still] translates to a 5% year-to-date contraction compared to the first three months of 2015,” he said in a statement.
“Used truck inventories are growing at both the OEM and dealer level, with an oversupply of late model aerodynamic fleet spec’d sleepers,” Tam added. “The average age of Class 8 used trucks sold in March remained flat month-over-month, while prices trended up month-over-month in all three market segments, with retail and auction segments faring the best.
Still, used Class 8 truck prices remain lower on a year-to-year basis, he pointed out.
Tam noted one improving metric where used trucks are concerned: “Average mileage of used Class 8 trucks in March fell 3% month-over-month; the second consecutive month of improvement for this measure.”