May’s Used-Truck Sales Fall; Average Price Flat
Sales of used Class 8 trucks in May fell by 10% year-over-year, ACT Research Co. reported.
“A portion of the decline can be attributed to the usual seasonal softness as well as some to a possible shift in the seasonal buying pattern,” Steve Tam, ACT’s vice president, commercial vehicle sector, said in a statement. “All three market segments [saw declines, with auction and wholesale hit the hardest.”
Tam added, “Dealers are reporting that used-truck inventories continue to be high and are causing used-truck prices to continue falling. The average price of used Class 8 trucks remained flat month-over-month, while average age climbed in May and mileage improved, dropping month-over-month, year-over-year and year-to-date.”
ACT surveys dealers, wholesalers and auctioneers, as well as a few large fleets, to determine average prices, age and mileage.
