While the average age of Class 8 used trucks was flat in June and the average miles of sold used trucks slipped 2% m/m, the average sale price remained strong. Prices were up 3% y/y. They also rose 7% YTD, in line for ACT’s expectations of 5-10% growth in 2015.
Total reported volumes of used Class 8 trucks rose to 2,643 units in June, up 6% month-over-month, according to the latest release of the State of the Industry: US Classes 3-8 Used Trucks, published by ACT Research.
“The used truck market continues to be strong, exhibiting high prices,” said Steve Tam, vice-president-Commercial Vehicle Sector with ACT. “Volumes in the auction and wholesale markets indicated very strong sales with increases of 113% and 13% m/m, respectively. The retail market, on the other hand, remained flat month-over-month, but our guidance for full year 2015 sales remains unchanged.”
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).