Used-vehicle price rises 3% in September
Nov 3, 2010 3:13 PM
The average retail sales price of Class 8 used vehicles sold in September 2010 increased 3% month-over-month to $42,100 according to ACT Research Co. In the latest State of the Industry: US Classes 3-8 Used Trucks, ACT also reported that the number of units sold declined by 5% month-over-month as dealers reported a tightening supply of late-model equipment.
“Having fewer than necessary trucks of the right specifications is exacerbating the shortage of equipment and helping to drive up prices,” said Steve Tam, vice president–commercial vehicle sector with ACT. “Despite the lower number of transactions compared to August, all three used-truck sales channels (auction, retail, and wholesale) are well ahead of last year’s pace on a year-to-date basis. The used-dealer industry remains cautiously optimistic about future prospects as freight, trucker profitability and new truck demand are improving.”
ACT Used Truck database participants report about 2,500 transactions per month. The company is working with used-vehicle market participants to push the number of reported transactions higher. ACT estimates that approximately 10% of used Class 8 transactions are included in the database.
The report from ACT also provides data on the average used price for the top-selling Class 8 model for each of the major truck OEMs: Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo. To subscribe to the full report, go to www.actresearch.net.
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