Challenged by a lack of available inventory, sales volumes of used trucks fell in all sales channels during May, according to ACT Research.
Sales volumes were down approximately 15% from April's level.
The update on the used market was reported in the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. ACT also reported that average miles for vehicles as well as prices in the used market both continued to increase.
"While used inventory continues to be tight, the industry should see some relief in supply and pricing as new truck sales improve," said Steve Tam, vice president-commercial vehicle sector with ACT. "Due to new truck buyers holding on to their equipment longer, used truck mileage continues to trend upward. Vehicle age and mileage are expected to increase throughout 2011."
The report from ACT provides data on the average used price for the top-selling Class 8 model for each of the major truck OEMs.
Sales volumes were down approximately 15% from April's level.
The update on the used market was reported in the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. ACT also reported that average miles for vehicles as well as prices in the used market both continued to increase.
"While used inventory continues to be tight, the industry should see some relief in supply and pricing as new truck sales improve," said Steve Tam, vice president-commercial vehicle sector with ACT. "Due to new truck buyers holding on to their equipment longer, used truck mileage continues to trend upward. Vehicle age and mileage are expected to increase throughout 2011."
The report from ACT provides data on the average used price for the top-selling Class 8 model for each of the major truck OEMs.
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