Class 8 same-dealer used truck sales volumes continued their upward climb in October with the best month of 2017 thus far. October volumes increased 12% month over month, up 37% from October last year, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“Compared to the first ten months of last year, the year-to-date volume gap widened to 21%,” said Steve Tam, Vice President at ACT Research. “A look at the individual market segments reveals strong growth in the auction and wholesale segments, while the retail market held steady.”
Dealers are reporting that used truck sales appear are better than expected, but there is still an oversupply of trucks.
“Used vocational trucks, such as dump trucks and heavy haul tractors, continue to bring a good profit,” noted Tam. “These trucks were in short supply before the hurricanes hit, and are now needed for both the additional cleanup work and as replacements for the trucks damaged during the storms.”
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.