Used Class 8 Sales Volumes and Prices Rose YTD in August, While Average Miles Were Lower and Age Was Flat

ACT Research reports used Class 8 same dealer sales volumes saw their fifth consecutive month of sequential declines in August

According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 volumes (same dealer sales) were 4% lower month-over-month. Longer term, volumes were down 22% y/y, but up 7% ytd. Average prices were 6% higher compared to July, 48% more expensive than in August of 2020, and 33% greater ytd. Average miles were 1% fewer m/m, but 1% more y/y. Average age was up 4% from July and 9% older compared to August of 2020.

Looking at the different sales channels for used Class 8 vehicles, Tam commented, “Channel results were mixed, with the wholesale and retail segments showing a small increase in the near term. All three outlets saw lower volumes compared to August 2020. Through the first eight months of the year, only the retail segment has improved.”

He added, “Aside from bemoaning the lack of inventory, the most popular topic of conversation in the industry centers on understanding pricing dynamics, especially when the market will begin to cool. The answer to the question is one that depends, in part, on one’s perspective.” Tam concluded, “On a sequential basis, our expectation is that growth should continue through the end of Q1’22. Looking back to 2020, pricing will start seeing increasingly tougher comparisons with October sales. With the additional buffer, year-over-year growth will likely continue through Q2’22. Key to these expectations is the balance between fleet size and freight to be hauled and work to be done.”

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