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Preliminary used Class 8 volumes jumped

Numbers increased sequentially in March, remain down longer-term.

Preliminary used Class 8 volumes (same dealer sales) jumped 25% month-over-month in March, following a modest decline in February, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. However, the report indicated that longer-term comparisons yielded a 14% decline compared to March 2018.

Other data released in ACT’s preliminary report included year-over-year comparisons for March 2019, which showed that average prices rose 7%, while average miles contracted 2%, and average age was 8% higher.

“We continue to hear from dealers that the lack of inventory is a limiting factor inhibiting sales volumes, an observation corroborated by the current demand and pricing environment,” said Steve Tam, vice president at ACT Research. “Despite the impressive sequential increase, volumes remain well below last year’s year-to-date level.”

“It is important to note that slowing growth in the freight market is also a likely contributor to the lower sales,” Tam continued. “Truckers may be getting to the point where they have the trucks necessary to meet their needed freight demand.”

According to Fleet Advantage, a company focusing on truck fleet business analytics, equipment financing, and lifecycle cost management used its ATLAAS Unified (Advanced Truck Lifecycle Administrative Analytics Software) to find its Q1 2019 Truck Lifecycle Data Index (TLDI).

The TLDI shows that fleet operators can realize a first-year per-truck savings of $16,928 when upgrading from a 2015 sleeper model-year truck to a 2020 model. For a fleet of 100 trucks, when upgrading to a 2020 MY savings can reach $1.7 million.

Fleet Advantage states that fuel savings account for a large portion of the savings. In fact, fleets can save $6,048 in the first year of fuel expenditures when replacing a 2015 MY sleeper, representing a 12% increase in fuel economy and reduction of CO2 emissions. Maintenance and repair also offer significant savings.

These comparisons are critical in helping fleet operators determine future procurement plans, including finding the “TIPPINGPOINT” – the point at which a truck reaches economic obsolescence, and costs more to operate than to replace with newer equipment.

“Over the years the data has continually shown that replacing older trucks with newer, more efficient units can lower the overall cost of a fleet,” said Jim Griffin, chief operating officer and chief technology officer for Fleet Advantage.

ACT’s Classes 3-8 Used Truck Report 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).

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