ACT Research: Used Class 8 truck sales are up

ACT Research: Used Class 8 truck sales are up

Preliminary used Class 8 volumes (same dealer sales) rose 11% month-over-month in December, and are 25% higher year-to-date compared to 2019, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Compared to December of 2019, volumes gained 27%.

Other data released in ACT’s preliminary report included month-over-month comparisons for December 2020, which showed that average prices increased 2%, while average miles dropped 1% and average age was 1% higher, compared to November. Year-to-date, average price, miles, and age were all lower, down 8%, 4%, and 8%, respectively, compared to full-year 2019.

“Months before COVID reared its ugly head, we were expecting the cooling that started mid-year in 2019 to continue into 2020. The market was overheated and in need of a much-deserved breather,” said Steve Tam, vice president at ACT Research. “While we are not yet officially forecasting used truck values, we called for full-year pricing to be down between 5% and 10%. December’s preliminary reading of -8% falls squarely in that range.”

“Pricing improved year-over-year in all three channels, with a restrained gain in the retail market keeping a lid on growth, while auction and wholesale price surged,” Tam added. “Miles and age continue to support higher pricing, falling 8% and 9%, respectively, compared to 2019.”

You May Also Like

Volvo on Demand battery electric truck adoption program launches

Volvo Trucks North America (VTNA) launched Volvo on Demand, a Truck-as-a-Service (TaaS) business model focused on battery electric trucks in collaboration with Volvo Financial Services (VFS). Volvo says Volvo on Demand was designed as a solution to simplify the acquisition and reduce the major upfront investment in battery-electric vehicles. Volvo on Demand provides qualified customers

Volvo Trucks North America (VTNA) launched Volvo on Demand, a Truck-as-a-Service (TaaS) business model focused on battery electric trucks in collaboration with Volvo Financial Services (VFS). Volvo says Volvo on Demand was designed as a solution to simplify the acquisition and reduce the major upfront investment in battery-electric vehicles. Volvo on Demand provides qualified customers with flexible term options as short as 12 months and includes Volvo Trucks’ Gold Contract and the option to bundle vehicle insurance for physical damage and collision, route planning and optimization guidance, as well as consultation to find the best charging solution and incentives that might be available.

Hino, Hexagon Purus launch Tern zero-emission truck brand, RC8 Class 8 truck

Hino Trucks and Hexagon Purus announced the launch of Tern, a new zero-emission truck brand along with their inaugural truck model, the RC8, a battery electric Class 8 tractor. Related Articles – Penske Truck Leasing to offer REE Automotive’s P7-C electric trucks – Hyundai previews enhanced Xcient fuel cell truck – New Penske Energy initiative

Daimler announces battery repairing, remanufacturing, repurposing and recycling program

DTNA says the circular economy approach strives to extend the usability of rare-earth materials and products.

Daimler-Truck-North-America-Logo-1400
Kenworth T680, T880 trucks with Cummins X15N to begin production

Production of Kenworth T680 and T880 models with the new Cummins X15N natural gas engine will start in Q3 2024.

Kenworth-PACCAR-Cummins-X15N-Class-8-prudction-schedule
ACT Research numbers: Heavy-duty down, medium-duty up

ACT says after a year of unexpected growth, March orders may finally indicate a slowdown in capacity additions.

ACT-class-8-net-march-2024-orders

Other Posts

Daimler Truck reports good start to 2024

Despite lower Group unit sales, Daimler Truck says it continued toward a robust profitability in normalizing markets for Q1 2024.

Daimler-Truck-Q1-2024
Vipar Heavy Duty announces Latin America expansion plans

Plans include focusing on new locations, stockholders, and suppliers to serve the growing market.

VIPAR-Heavy-Duty-Latin-America-Expansion
Commercial tire market cautiously recovering from 2023 challenges

To better understand commercial tire expectations for the remainder of the year, we spolke with Pierluigi Cumo, VP of B2B products at Michelin North America.

Michelin-truck-tires
41 Volvo VNR EV trucks deployed by 4 Gen Logistics

The zero-emissions fleet will help the drayage company haul freight in southern CA, while advancing its commitment to sustainability.

4-Gen-logistics-Volvo-VNR-EV-electric-trucks