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Used truck buyers face older inventory, hesitant sellers, and economic headwinds. But understanding the trends could mean smarter decisions tomorrow.
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SelecTrucks recently opened four new used-truck sales locations in the Chicago suburbs, bringing the number of sales centers in its growing network to 34.
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While preliminary data shows that used Class 8 volumes dropped 10% month-over-month in October, they are still 10% up compared to the first 10 months of 2019, according to ACT Research.
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Ryder System recently launched a new fully responsive, mobile-friendly used vehicle sales website, which includes an expanded inventory of used vehicles and enhanced search tools.
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While the first eight months of 2020 showed used truck pricing 17% than the previous year, the recent bump from July to August saw a 7.8% increase over 2019, according to a recent report from J.D. Power.
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Used Class 8 truck sales improved 4% month-over-month in January, but sales were down 1% year-over-year compared to January 2019.
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ACT Research said North American used truck sales volumes fell 35% in November.
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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.
Read More →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.
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Record-setting orders for new Class 8 trucks are apparently not creating a used-truck glut, if used-truck prices are any indication. However, the growth in prices is expected to slow.
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