Used-Truck Sales Up in June
July 28, 2014
Class 8 used-truck sales were up in June compared to May and compared to last year, according to ACT Research's latest used-truck report.
The volume of used Class 8 trucks sold in June rose 10% above May’s volume, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks.
ACT estimates that 2,376 used Class 8 trucks sold, based on a sample of the activity that takes place in the total used truck industry, compared to 2,055 in June last year, a difference of 15.6%.
“June’s performance was a little counterintuitive, given that sales usually slow in the summer months, “ said Steve Tam, vice president-Commercial Vehicle Sector with ACT. “While one month does not make a trend, it is a confirmation that demand in the used truck market remains strong,” he added.
Meanwhile, the average selling price of total reported Class 8 trucks sold in June slipped for the second month in 2014, to a record $47,345. “Despite the short-term decline, our expectation is for price appreciation of up to 10% for 2014, with some upside risk possible,” Tam said.
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.