The Class 3-8 used truck market tumbled 10% in July, reversing the market gain posted during June, according to ACT Research.
Lack of inventory continues to be a challenge for the industry, with particular pressure occurring in the late model/low mileage market segment. Examined on a year-to-date basis, the used market is 4% behind the pace one year ago.
"We expect both age and mileage of used trucks to continue to grow throughout the rest of 2011," said Steve Tam, vice president-commercial vehicle sector with ACT.
Despite those trends, tight supply will result in used truck prices drifting further upward. While improving new truck sales will generate more trade-ins, providing some relief to used market pressures, this will only act to soften growth in prices, not reverse it.
Lack of inventory continues to be a challenge for the industry, with particular pressure occurring in the late model/low mileage market segment. Examined on a year-to-date basis, the used market is 4% behind the pace one year ago.
"We expect both age and mileage of used trucks to continue to grow throughout the rest of 2011," said Steve Tam, vice president-commercial vehicle sector with ACT.
Despite those trends, tight supply will result in used truck prices drifting further upward. While improving new truck sales will generate more trade-ins, providing some relief to used market pressures, this will only act to soften growth in prices, not reverse it.
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