Used Class 8 truck same dealer sales volumes took a steep downward turn in May, falling by double-digit percentages m/m and y/y, but year-to-date volumes declined by a smaller percentage, according to the latest release of the State of the Industry: US Classes 3-8 Used Trucks, published by ACT Research.
“May Class 8 used truck volumes fell by 18% m/m and 10% y/y, while year-to-date declines were less pronounced, down 5% from May 2015,” said Steve Tam, ACT’s vice-president-commercial vehicle sector. “A portion of the decline can be attributed to the usual seasonal softness as well as some to a possible shift in the seasonal buying pattern.
“All three market segments saw declines, with auction and wholesale hit the hardest. Dealers are reporting that used truck inventories continue to be high and are causing used truck prices to continue falling. The average price of used Class 8 trucks remained flat month-over-month, while average age climbed in May and mileage improved, dropping month-over-month, year-over-year, and year-to-date.”
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).