Same-dealer sales volumes of used Class 8 truck sales volumes gained ground in August, according to data tracked by ACT Research; in fact making August the second best sales month for used heavy-duty trucks for 2017 so far, the firm noted.
“The retail and wholesale market segments fared well, posting gains of 11% and 19% month over month, respectively,” said Steve Tam, vice president of ACT, in a statement – adding that the August increase in sales follows two consecutive months of declines.
However, he pointed out that the average price of total reported used Class 8 truck sales fell 3% sequentially in August, erasing July’s 2% gain. “After several months of fluctuation within a very narrow band, the average price has moved to a slight downward trend,” Tam explained. “At $38,600 in August, it was the lowest point since early 2011.”
Michael Baudendistel, vice president of the Stifel Transportation & Logistics Research Group, noted in a recent update that prices of used trucks have declined at a “more moderate pace” in 2017 than the prior two years, but there has been no meaningful rebound.
“The likelihood is that the used truck market will continue to be weak for the next few years as the historically large volume of new trucks that were built in 2014 and 2015 come into the used market for the first time,” he added.