Class 8 same dealer used truck volumes continued to climb in October, with the best month of 2017 so far, according to ACT Research.
Used heavy-duty truck same-dealer sales volumes increased 12% compared to the previous month and are up 37% compared to October 2016.
“Compared to the first 10 months of last year, the year-to-date volume gap widened to 21%,” said Steve Tam, vice president at ACT Research. “A look at the individual market segments reveals strong growth in the auction and wholesale segments, while the retail market held steady.”
According to ACT, dealers are reporting that used truck sales are better than expected – but there is still an oversupply of truck inventory.
“Used vocational trucks, such as dump trucks and heavy haul tractors, continue to bring a good profit,” noted Tam. “These trucks were in short supply before the hurricanes hit, and are now needed for both the additional cleanup work and as replacements for the trucks damaged during the storms.”