Used Class 8 truck metrics continued to be mixed in October. Volumes shrank 3% m/m, despite longer term comparisons being stable, with volumes down a mere 1% y/y and the past nine months flat, relative to the same period in 2014, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“Average mileage of used Class 8 trucks prolonged its diamond-in-the-rough status in October, dropping 2% m/m and 11% y/y. We expect the YTD mileage numbers, now 9% lower than 2014, to remain low, as the industry continues to work its way through the supply of underutilized trucks from the 2008-2010 economic downturn and as new truck buyers shorten their trade cycles,” said Steve Tam, ACT’s Vice President-Commercial Vehicle Sector.
“Conversely, the average age of U.S. Class 8 used trucks sold in October could not have been more mixed. Age fell to 90 months, a 3% m/m improvement. Compared to October 2014, trucks were 2% older, while age remained relatively flat YTD. Additionally, average prices climbed 4% m/m, holding onto a 1% YTD gain for the third consecutive month.”
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). For subscription information to the full report, please go to http://www.actresearch.net.