728 banner ad
220 banner ad

Preliminary Used Class 8 Data Shows YTD Sales Flat, With Average Price, Miles and Age All Lower

| July 15, 2020

ACT Research reports used Class 8 volumes grew 54% month-over-month in June

Preliminary used Class 8 volumes (same dealer sales) grew 54% month-over-month in June, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Longer-term, volumes rose 6% compared to June 2019, but were flat when measured against the first six months of last year.

Other data released in ACT’s preliminary report included month-over-month comparisons for June 2020, which showed that average prices were down 4%, while average miles and average age each increased, up 4% and 1%, respectively, compared to May. Year-to-date, average price, miles, and age were all lower, down 13%, 3%, and 8%, respectively, compared to the first six months of 2019.

According to Steve Tam, Vice President at ACT Research, “The fact that no one buys a truck that is not needed calls into question why so many used trucks are currently being sold, given all the negative news about the economy.” He continued, “The simple truth is that, fingers crossed, the worst of the global pandemic is behind us, and even though new cases are at or near record highs in the U.S. and deaths are on the rise, we are no longer in uncharted territory.” Tam concluded, “The first wave of COVID-19 came out of the blue, but now businesses are much more prepared to deal with the virus, and citizens of this country are nothing if not resourceful and ready to move past this disaster.”

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

Comments are closed.