In August, ACT Research reports, pricing for used trucks continued to climb along with net orders for trailers.
Pricing continues to be the most interesting and watched of the used truck market metrics. In August, pricing was up for all three time period comparisons, month over month, year over year, and ytd/ytd. Volumes have also increased month over month, but remained well below pace for other time period comparisons.
"One positive note from August activity is that earlier concerns about excess inventory seem to have been relatively isolated and are waning," said Steve Tam, vice president-Commercial Vehicle Sector with ACT.
Net orders for trailers improved in August, rising to 15,370 units. Applying August's seasonal factor brought the order total to 18,200 units.
"Looked at through a seasonal lens, August's volume was the best since April," said Frank Maly, director-CV Transportation with ACT Research.
"While improved, annualizing August's seasonally adjusted order volume generated a lackluster 219,000 annualized rate of order intake. Orders on a seasonal basis below the build trend is an indication of fleets' unwillingness to expand investment when the outlook is particularly opaque. Orders typically occur below the rate of build in Q3. Combined with slower economic activity and rising uncertainty, orders are expected to remain soft into Q4."