Same dealer sales volumes of used Class 8 trucks fell in September after briefly rebounding in August, according to the latest report from ACT Research.
Used truck sales fell 3% compared to August and were down 18% compared to September 2018. August had seen a 9% increase in used truck sales, but that increase was short lived.
The average miles increased 5% from August and were unchanged year-to-date, while the average age fell by 3% month-over-month but was up 4% year-to-date. Prices were also down compared to August, but grew by 6% year-to-date.
“Dealers are reporting continued declines in used truck prices and growing truck inventories,” said Steve Tam, vice president at ACT Research. “Some truck dealers and truckers have been unpleasantly surprised that the rate of decline in truck prices has not slowed.”
On the bright side, Tam said that with a softer used truck market, truckers and dealers should be able to find bargains “compared to the overheated market we saw last year and earlier this year.”
The report from ACT provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).