Used Class 8 Truck Same Dealer Drop in November Following October Surge

Class 8 same dealer used truck sales dropped by 17% last month following the unexpected climb in October, according to ACT Research.

“Seasonal weakness is not uncommon in early to middle fall,” said Steve Tam, Vice President at ACT Research. He continued, “Some would argue this is due to buyers waiting for the more favorable pricing that sometimes occurs in December, due to dealers attempting to reduce inventory before year end.”

Despite the sequential decline, dealers are reporting that used truck sales have improved from early 2017 levels. That said, the market continues to be negatively impacted by the large numbers of used late model aerodynamic sleepers in inventory that are pushing down prices. “The good news is, buyers are more active now than a few months ago,” noted Tam. He continued, “One issue impacting used truck sales is there is better communication about used truck prices than there was a few years ago.”

The average price of total reported used Class 8 trucks fell 3% month over month in November, but were 1% higher compared to last November. “Year-to-date values continue to lag behind last year’s prices, down 6% compared to the comparable period from 2016,” noted Tam.