According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 volumes (same dealer sales) grew for all time periods, up 28% sequentially, 25% higher y/y, and 13% more on a YTD basis. Average prices were 6% higher compared to February and 20% more expensive than in March of 2020, while average miles dropped 2% m/m and y/y. Average age was flat for all three time periods, ACT says.
“March used Class 8 same dealer sales volumes recovered strongly from unseasonably bad winter weather in February,” said Steve Tam, vice president at ACT Research. “Part of the gain may be seasonal, as March typically enjoys about a 13% seasonal bump from February. However, it appears that buyers continue to drain the supply of used truck inventory.
“Channel results were oddly mixed, with auctions contracting across the board and retail sales surging for all time period comparisons. Wholesale transactions improved both m/m and y/y, but still lag on a ytd basis. It appears as though dealers may be getting more comfortable with having to pay more for trades as they compete for scarce units. Fortunately, their investments are not going unrewarded.”