Used Truck Sales Jumped 43% M/M, but YTD Are Down 17%

Despite the pop in sales reported above, most dealers are reporting lagging used truck sales

In what is largely believed to be an anomaly, used Class 8 same dealer sales volumes jumped 43% m/m in October, following a 5% m/m loss in September, 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 were up 7% y/y, but down 17% ytd compared to the first ten months of 2018. The report also indicated used Class 8 average miles increased month-over-month, rose 4%, and were virtually flat year-to-date, while average age inched up 1% compared to September but rose 4% on a year-to-date basis. Average price also shed 13% m/m, while growing 3% ytd.

 “Despite the pop in sales reported above, most dealers are reporting lagging used truck sales; at the same time, inventories are continuing to build,” said Steve Tam, Vice President at ACT Research. He continued, “The two forces are conspiring to drive prices down and creating a buyer’s market.” Tam concluded, “Prices have reached a point that is attractive enough to some buyers who are looking to upgrade their fleets to make a purchase decision, while fleets who have been holding onto trucks that they no longer need are making these trades available for purchase, as freight softens.”

Category: Featured, General Update, News