Used Class 8 truck sales volumes were down in January, falling 6% month over month and 3% year over year. The update on the used market was reported in the latest release of the State of the Industry: US Classes 3-8 Used Trucks, published by ACT Research.
“While one data point does not make a trend, longer term softness is in line with expectations, as new truck buyers have held onto their equipment longer before trading,” says Steve Tam, vice-president-commercial vehicle sector with ACT. “The net effect is older, higher mileage trucks, which translates into lower prices. It is now a buyers’ market.”