Reported sales of used Class 8 commercial vehicles were up 55% in August compared to the prior year on a “same dealer” basis, according to the latest release of ACT Research Co.’s State of the Industry: U.S. Classes 3-8 Used Trucks. The analysis and forecasting firm also reported that the average price paid for a used Class 8 truck continued to move “slightly higher.”
“While unit sales are up year-over-year, recent months have seen flat to slightly downward sales volume as dealers have voiced concerns over a shortage of late-model inventory,” said Steve Tam, vp--commercial vehicle sector. “As in most cases when supply tightens, prices go up.
“In August, the average price of a used Class 8 vehicle sold in a retail setting (excluding auctions and wholesale transactions) broke the $40,000 barrier for the first time since February of 2009,” he added.
According to ACT, its Used Truck database participants report approximately 2,500 transactions per month. The company noted that it is “working with used vehicle market participants to push the number of reported transactions significantly higher.” ACT estimates that approximately 10% of used Class 8 transactions are included in the database.
The ACT report also provides data on the average used price for the top-selling Class 8 model for each of the major truck OEM brands – Freightliner, Kenworth, Peterbilt International and Volvo.
Click here for subscription information to the full report.
