Used Class 8 Truck Prices Up Y/Y in February

Total Class 8 used truck prices rose 3% year-over-year in February, but dipped 2% month-over-month, while average mileage was flat compared to last February and the average age was lower on a year-over-year basis, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.

“Dealers are reporting that used truck sales have strengthened,” said Steve Tam, Vice President at ACT Research. He continued, “Dealers are working harder to find used trucks to sell and the dynamics of the market have moved from an oversupplied market a year ago to one now in better shape.”

Individual market segments yielded mixed results in February. Tam explained, “The retail channel volume dropped 3% month-over-month in February, while the auction and wholesale segments both recorded increases of 9% compared to the previous month.” “Looking forward, we expect volume to continue gaining momentum as we approach spring, supported by seasonal strength, and for full-year totals to remain at or near current levels,” noted Tam.

 

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