Used Class 8 Sales Slow Down in August
Sales for used Class 8 trucks fell by 10% in August compared with the previous month and 6% compared to last year according to a report by ACT Research.
Sales for used Class 8 trucks fell by 10% in August compared with the previous month and 6% compared to last year, according to a report by vehicle data provider ACT Research. The findings were published in ACT’s report, State of the Industry: Classes 3-8 Used Trucks.
“Year-to-date, sales remain down 5%,” said Steve Tam, president of the commercial vehicle sector at ACT. “The average selling price of total reported Class 8 trucks remained at a high level, but was flat relative to July.”
Vehicle selling prices are projected to appreciate by 10% in 2014 with the possibility of an even better increase than forecasted due, said Tam. While retail and wholesale markets also shrunk compared to the previous month, August auctions gained 5%.
The industry report uses a sampling of industry data to find the average selling price, miles and age of used trucks. The report also provides the average selling price for top-selling Class 8 models for major OEM’s like Freightliner, Kenworth, Peterbilt, International and Volvo.
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