Total Class 8 used truck prices rose 2% year-over-year in January, but dipped 3% month-over-month, 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 there was a noticeable increase in used truck sales at the end of 2017 that appears to be more than the end of the year ‘buying trucks to avoid paying taxes’ often seen,” said Steve Tam, vice-president at ACT Research. “Many dealers were happy to report more interest in late model aerodynamic sleepers than what was expected. Despite the good news regarding sales of these units, however, this segment continues to be oversupplied.”
All three markets--retail, wholesale, and auction--were up month-over-month and year-over-year in January. That said, Tam explained, “Wholesalers and used truck dealers are working harder to find used trucks and struggling to find those that are priced right, possibly a signal that supply of some used trucks is shrinking. 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.”