ACT
Steve Tam, vice president at ACT Research
Steve Tam, vice president at ACT Research
Steve Tam, vice president at ACT Research
Steve Tam, vice president at ACT Research
Steve Tam, vice president at ACT Research

ACT Research: Used truck sales jump 43% in October

Dec. 9, 2019
Used Class 8 same dealer sales volumes jumped 43% m/m in October, following a 5% m/m loss in September

In what ACT Research says likely is an anomaly, used Class 8 same dealer sales volumes jumped 43% month over month in October, following a 5% m/m loss in September, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks.

Longer term, sales were up 7% year-over-year, but down 17% year to date compared to the first 10 months of 2018. The report also indicated used Class 8 average miles increased by 4% m/m and were virtually flat year to date, while average age inched up 1% compared to September but rose 4% on a year-to-date basis.

Average price also shed 13% m/m while growing 3% year to date.

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).

“Despite the pop in sales reported above, most dealers are reporting lagging used-truck sales; at the same time, inventories are continuing to build,” said Steve Tam, vice president at ACT Research. “The two forces are conspiring to drive prices down and creating a buyer’s market.

“Prices have reached a point that is attractive enough to some buyers who are looking to upgrade their fleets to make a purchase decision," Tam continued, "while fleets who have been holding onto trucks that they no longer need are making these trades available for purchase, as freight softens.”

About the Author

Commercial Vehicle Staff

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