Used Class 8 Truck orders were flat for the month of July, according to the latest report from ACT Research.
Despite this, used truck sales remain strong, according to ACT, especially on the retail side where volumes rose 10% month-over-month. However, this gain was offset by decreases in the auction and wholesale markets.
“Used truck sales remain strong, but some downward adjustment of use truck prices is occurring,” said Kenny Vieth, president and senior analyst with ACT. “This is not an unexpected outcome due to the strength of the new truck market and the resulting increase in trade activity.”
From June to July, the average age and miles of used trucks were up 1%. Average prices are up 2% in July and 6% from the start of 2015. A more detailed breakdown of the used truck market was published by ACT Research in the latest release of its State of the Industry: U.S. Classes 3-8 Used Trucks.