Volumes for used Class 8 trucks sold in July recovered from the steep decline they experienced in June. All three market segments, auction, retail and wholesale, contributed to the sequential gain, with the total market improving 4% month-over-month.
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.
“The average selling price of total reported Class 8 trucks sold in July exhibited resilience,” said Steve Tam, vice president-Commercial Vehicle Sector with ACT.
For the first half of the year, prices have slipped 5% relative to the same period in 2012. Excessive demand for 2005-2007 trucks has fueled strong price appreciation, he added.
The report from ACT provides data on the average used price for the top-selling Class 8 model for each of the major truck OEM’s – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).