Used truck prices drop for first time since January 2018
The final average price of total used Class 8 trucks in August fell 1 percent year over year, the first price decline since January 2018, according to ACT Research.
For the year to date, prices are up 7 percent.
Overall, used truck sales were down 19 percent through August this year compared with the first eight months of 2018, according to ACT’s latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks.
“Dealers are reporting that used truck sales are not in the tank, but the prices for trucks have fallen and inventories are growing,” said Steve Tam, ACT vice president. “This is not unexpected as sales of new trucks have been barreling along leading to many trade trucks coming to dealers.”
The flow of used trucks slowed in the early part of the year as manufacturers worked overtime to reduce an industry backlog created by record new equipment orders in 2018. That prompted many fleets to hold onto trucks they planned to trade. With retail deliveries humming and the backlog falling, used trucks are piling up. According toand his article in the freightwaves.com.
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Source and credits: freightwaves.com // iTrucker / Mario Pawlowski