Used Class 8 truck metrics were generally in line from June to July, with average age and miles up an incremental 1% each. Compared to last year, average prices were up 2% in July and 6% YTD, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“Used truck sales remain strong, but some downward adjustment of use truck prices is occurring,” said Kenny Vieth, ACT president and senior analyst. “This is not an unexpected outcome due to the strength of the new truck market and the resulting increase in trade activity.”
“Volumes in the retail market posted a strong 10% increase m/m, even as auction and wholesale markets saw declines from strong June activity,” he added.
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 here.