The used truck market enjoyed a second consecutive month of improved volumes in March, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
The retail market was flat compared to February, while the wholesale market contracted. However the auction market roared back to life in March, growing 126%, giving the overall market a 4% boost month over month.
Concerning March’s volume, Steve Tam, Vice President-Commercial Vehicle Sector with ACT, commented,” Hopefully, lost activity and momentum in the economy due to the threat of falling off the fiscal cliff and the presidential election have subsided enough that used truck buyers will continue to increase purchases. However, uncertainty associated with sequestration may be the next sticking point for potential buyers.”
The report from ACT provides data on the average used price for the top-selling Class 8 model for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).