Used truck prices rose 10% in 2018, while sales volumes increased 8%, according to ACT Research.
The average price of total used Class 8 trucks sold in 2018 was up 10% compared to 2017, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
The report also indicated that used Class 8 same dealer sales volumes fell 9% month over month, but rose 8% for full-year 2018. Average mileage was flat compared to 2017, while average age declined 3% in 2018.
“Dealers are reporting that used truck sales continue at a very high pace, with the only immediate dark clouds being that there are not enough trucks to meet demand,” said Steve Tam, vice president at ACT Research. “However, dealers are also cognizant of slowing freight growth and the subsequent dynamics expected to play out in the new truck market. Ultimately, the industry expects an abundance of inventory that will inevitably put downward pressure on prices.”
Analysis of the individual market segments continue to indicate mixed results. “The retail segment posted its first year-over-year decline since December 2016, but was up 13% year-to-date,” Tam said. “On the other hand, the auction channel was up 8% year-over-year, but down 4% year-to-date. The wholesale segment dropped 30% year-over-year, remaining flat for full-year 2018.”
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).