13.8 C
Friday, June 21, 2024

Used Truck Surge Misleading

Used Class 8 truck same-dealer sales volumes swung upward in June, posting a double-digit month-over-month increase, following a sharp decline in May, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. The report noted, however, that sales were down year-over-year and year-to-date compared to the same period in 2015.

“June Class 8 used truck volumes grew 15 percent month over month. For perspective, May sales fell 18 percent month over month. When we see dramatic, opposing shifts such as this, we tend to average the two points together, ascribing the variation to shifts in timing of purchases. Taking that broader view, the change in volumes is easier to understand. As a case in point, YTD sales in May and June were down 5 percent,” said Steve Tam, ACT’s vice president of the commercial vehicle sector.

“Dealers are reporting an increase in customer traffic, but this has not led to surging sales,” Tam continued. “The average price and age of used Class 8 trucks fell month over month, while average mileage rose by a mere 1 percent.”

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 manufacturers: Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).