Used Truck Sales Rise, Prices Fall; New Trailer Orders Ease Slightly
April 28, 2014
UPDATED -- The volume of used Class 8 trucks sold in March rose 8% above February’s volume, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
“The volume gain was expected, since sales usually gain through March or April before slowing for the summer months,” said Steve Tam, vice president, commercial vehicle sector with ACT.
Tam said that growth came from the auction and wholesale markets, while the retail market contracted. Meanwhile, pricing foundered in March, experiencing its first sequential drop in six months.
“Although prices remained stronger on a year-over-year basis, a spate of older, higher mileage units took its toll, at least in the short run,” said Tam.
Trailer order volumes eased month over month in April, but large fleet commitments were still providing support, according to the most recent State of the Industry: U.S. Trailers, also published by ACT Research.
Cancellations posted single-digit rates and the order board was the best in nearly eight years.
“The month over month slide in orders was in line with seasonal expectations,” said Frank Maly, director, commercial vehicle transportation analysis and research at ACT. “New order volume was 29,730 trailers, down 8% from March. After cancellations, net volume of 29,370 was down 2%.”
The six months of the 2013/14 order season generated 165,000 net trailer orders, up 22% year over year he added.
Update adds used truck figures.