Used truck sales are slumping for 10th consecutive month
Preliminary used Class 8 truck sales fell 25% in August compared with the same month in a booming 2018 and are running 18% lower year to date, according to ACT Research. According to the article from freightwaves.com and its author Alan Adler
August was the 10th consecutive month of lower used truck sales on month-over-month and year-to-date comparisons. Average prices fell 1% while average miles climbed 2%. The average age of the used truck was unchanged from July. Adler also wrote in his article.
ACT tracks top-selling Class 8 models at each of the major truck OEMs – Freightliner (Daimler Trucks North America); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo Trucks North America). According to Adler.
The industry is handling the softening of the used truck market well since it has been expected for two years, said Steve Tam, ACT vice president. Capacity rebalancing should happen quickly, he said. You can also read in Adler’s article.
“Cool heads are prevailing as volumes fall and prices continue to sink, with dealers keeping calm and selling on,” Tam said.
Read the full story HERE.
The average 5-year-old truck sold for $43,520 at the end of July, according to data from FreightWaves SONAR (UT5.USA).