Used Class 8 same dealers sales were down 10% in June and prices remained essentially flat, but this used truck dealers say that at current levels, sales and prices are still strong, according to ACT Research.
“Many are reporting that there has been some downward adjustment of prices, but they are still good, and despite slower sales and lower truck values, sales remain strong and prices are higher for a given age and mileage level than what would normally be expected,” said Brian Armstrong, Information Systems Manager at ACT Research.”
The average price of used heavy-duty trucks gained just 2% from May to June, but was still up 10% from the beginning of the year. Sales were down 26% year-over-year and 18% year-to-date and dealers say that used truck sales may be headed even lower.
“Dealers are reporting that used truck sales have slowed and appear to be slowing to even lower levels than what is currently being sold,” said Armstrong.
The average mileage for used trucks dropped by 2% and the average age of trucks sold was down 5%.