October Used Truck Metrics Show Volumes Remain Up YTD

ACT Research reports Average Price, Miles and Age Down for the Same Time Period

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 same dealer sales volumes were up 20% year-to-date against the first ten months of 2019, with average price, miles and age all below October 2019 ytd rates, down 11%, 2%, and 8%, respectively. Near term, the report indicated that used Class 8 sales volumes and average miles both fell, down 4% and 1% m/m, respectively, while average age was flat sequentially and average price rose 6% compared to September.

“Input from dealers with whom we communicated over the past month confirms that the recovery in the market remains on track, though it is showing some signs of slowing,” said Steve Tam, Vice President at ACT Research. He continued, “At the beginning of the pandemic, the industry sidelined more than 100,000 for-hire truck drivers, artificially tightening capacity. The two catalysts of solid freight growth and unproductive trucks have conspired to drive spot freight rates to record levels, and this, in turn, has attracted a higher-than-expected number of buyers to the used truck market, yielding higher sales and selling prices.”

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