Used Class 8 truck metrics continued to be mixed in February, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“February Class 8 used truck volumes appeared to be getting an early jump on spring, rising 6% y/y. This, however, translates to a 7% YTD contraction compared to the first two months of 2015,” said Steve Tam, ACT’s Vice President-Commercial Vehicle Sector. “Dealers continue to report falling used truck values and slower than desired sales.”
The current state of the used truck market should not surprise anyone due to the large number of new trucks sold and the resulting trades over the last three years.
“Average mileage of used Class 8 trucks in February fell 3% m/m, breaking a streak of four consecutive monthly increases, and we expect YTD mileage numbers to remain lower in 2016 as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn.”