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June Used Class 8 Sales Volumes and Average Miles Fell Sequentially, While Average Price Rose and Age Was Flat

| July 26, 2021

ACT Research reports Class 8 volumes were 1% lower month-over-month. Longer term, volumes were down 5% y/y, but up 20% ytd

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 1% lower month-over-month. Longer term, volumes were down 5% y/y, but up 20% ytd. Average prices were 5% higher compared to May and 51% more expensive than in June of 2020, while average miles were 5% lower m/m and y/y. Average age was unchanged from May, but down 3% compared to June of 2020.

Used Class 8 same dealer sales continued to face challenges in June, though they nearly reached parity with May, slipping just 1%,” said Steve Tam, Vice President at ACT Research. He continued, “Sales typically increase about nine percentage points from May to June, so they moved counter to expectations, sometimes a precursor signaling impending change. Additionally, anecdotes suggest used truck inventory continued to contract in June, increasing pressure on both sales and pricing.”

Looking at the different sales channels for used Class 8 vehicles, Tam commented, “Channel results remained mixed in June, with the auction segment declining in all three time periods. Conversely, the retail markets showed improvement for all comparisons. Wholesale transactions improved in the short term, but were weaker longer term.”

He concluded, “Discussions we have had with dealers during the past month have centered on price and availability. Circumstances are forcing dealers and buyers to pay not only way more than normal for trucks, but way more than they want to pay. While we do not know when the market will turn, we note that underlying fundamentals suggest that the market transition will be more orderly, absent the popping of any bubbles like in some previous cycles.”

Category: Equipment, Featured, For Sale, General Update, News, Vehicles

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