Total Class 8 used truck prices rose 3% year-over-year in February, but dipped 2% month-over-month, while average mileage was flat compared to last February and the average age was lower on a year-over-year basis, 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,” said Steve Tam, vice-president at ACT Research. “Dealers are working harder to find used trucks to sell and the dynamics of the market have moved from an oversupplied market a year ago to one now in better shape.”
Individual market segments yielded mixed results in February. “The retail channel volume dropped 3% month-over-month in February, while the auction and wholesale segments both recorded increases of 9% compared to the previous month,” Tam said. “Looking forward, we expect volume to continue gaining momentum as we approach spring, supported by seasonal strength, and for full-year totals to remain at or near current levels.”
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).