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Monday, May 27, 2024

Used truck price is bit up in August, ACT research

The average selling price of total class 8 trucks was better than expected for August, mainly due to younger trucks finally entering the used market, according to ACT.

“For the first seven months of this year, prices were down only 4 percent relative to the same period in 2012,” said Steve Tam, vice president, Commercial Vehicle Sector with ACT.

“As retail sales of new trucks have improved, younger trucks with fewer miles are making their way into the used truck arena. Because these trucks have more usable economic life, they are also bringing higher prices.”