The Used Class 8 truck market was mixed in January with a significant decrease in sales coupled with falling mileage, increasing average age and flat pricing, according to an ACT Research report.
Used Class 8 truck sales volume fell 25% from December and 18% compared with January 2015, part of a seasonal trend of weak early-year sales, according to Steve Tam, ACT’s vice-president of the commercial vehicle sector.
“Total used truck Classes 3-8 sales were down 11% year over year compared to January 2015, with retail and wholesale markets declining, while the auction market posted a significant gain on a year-over-year basis,” said Tam.
Used truck values have been falling and inventory levels have been increasing signifying that supply is greater than demand and pulling truck prices down.
The average mileage of Used Class 8 trucks has increased by 2% compared to December, but is at a lower level than a year ago. The average age of trucks has risen as well and is 4% older than in January 2015.