Preliminary used Class 8 volumes were flat month-over-month in August, according to the latest preliminary numbers from ACT Research.
Longer-term, volumes rose 46% compared to August 2019, and were up 21% when measured against the first eight months of last year.
Other data released in ACT’s preliminary report included month-over-month comparisons for August 2020, which showed that average prices increased 7%, while average miles and average age each decreased, down 2% and 3%, respectively, compared to July. Year-to-date, average price, miles, and age were all lower, down 16%, 3%, and 8%, respectively, compared to the first eight months of 2019.
“In aggregate, the used truck market continued to make gains compared to what happened last month,” said Steve Tam, vice president at ACT Research. “While the near-term progress is encouraging, the tougher standard is how the current market stacks up against last year. As we have been expecting for some time, today’s trucks are not bringing the same money they were a year ago, and given everything that has happened in our economy in the past year, that comes as no surprise.
“The good news is that even if prices remain where they are now, they will continue to make improvements relative to last year, becoming less negative as comparisons become easier.”
