Used Truck Sales Dropped 18% Year Over Year

Prices Decreasing and Miles and Age on the Rise

Used Class 8 same dealer sales volumes returned to a downward trajectory in September, falling 5% m/m and erasing a portion of August’s 9% improvement, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. Longer term, sales dropped 18% y/y and 19% ytd. The report also indicated used Class 8 average miles increased month-over-month, up 5%, and were unchanged year-to-date, while average age fell 3% compared to August but rose 4% on a year-to-date basis. Average price also shed 3% m/m, while growing 6% ytd.

The report from ACT provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers, to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance.

“Dealers are reporting continued declines in used truck prices and growing truck inventories,” said Steve Tam, Vice President at ACT Research. He continued, “Some truck dealers and truckers have been unpleasantly surprised that the rate of decline in truck prices has not slowed.” Tam concluded, “The silver lining to the softer used truck market is there are some bargains for savvy truckers and smart truck dealers now, compared to the overheated market we saw last year and earlier this year.”

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