The Class 3-8 used truck market fell 10% in July, reversing the market gain posted during June, according to ACT Research Co. (ACT).
Lack of inventory continues to be a challenge for the industry, with particular pressure occurring in the late-model/low-mileage market segment. Examined on a year-to-date basis, the used market is 4% behind the year-ago pace.
The update on the used market was reported in the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“We expect both age and mileage of used trucks to continue to grow throughout the rest of 2011,” said Steve Tam, vice president-commercial vehicle sector with ACT. “Despite those trends, tight supply will result in used truck prices drifting further upward. While improving new truck sales will generate more trade-ins, providing some relief to used market pressures, we expect this will only act to soften growth in prices, not reverse it.”