Total Class 8 used truck sales fell 9% year-over-year in December, but were down just 1% for full-year 2017 compared to 2016, according to the latest release of the State of the Industry: US Classes 3-8 Used Trucks, published by ACT Research.
“Dealers are reporting that used truck sales have strengthened and improved from the earlier levels seen in 2017, appearing to be headed in a good direction,” said Steve Tam, vice-president at ACT Research. “Most dealers are reporting better, but not great, sales, while freight rates have improved and appear to be stable, which helps all truckers, but particularly owner-operators and small fleets who often buy used trucks.”
All three markets--retail, wholesale, and auction--were up year-over-year in December, as well as for the full year. The average price of total reported used Class 8 trucks gained 5% year-over-year in December, but lost 5% in 2017 versus 2016.
“Given the expected strength of the new truck market in 2018, it is likely pricing pressure will resume in the latter half of the year,” Tam said. “It is worth noting that this December had two fewer build days than the last month of 2016, meaning on a per-day basis production was actually higher in 2017.”