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February Used Class 8 sales volumes fell, average price, miles, age rose

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David Sickels is the Associate Editor of Tire Review and Fleet Equipment magazines. He has a history of working in the media, marketing and automotive industries in both print and online.

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) fell sequentially (-7% m/m), while average sale price, miles and age were all higher than in January, up 4%, 2%, and 1% m/m, respectively.

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Longer-term, same dealer sales volumes dropped 5% y/y against February of 2020, while average price was 18% higher, average miles were 1% lower, and average age was flat on a year-over-year basis, ACT Research says.

“Used Class 8 same dealer sales volumes suffered from unseasonably bad winter weather and increasingly constrained inventory in February,” said Steve Tam, vice president at ACT Research. “While January holds the dubious distinction of being the seasonally weakest month of the year, sales normally pick up about 25% m/m in February.”

Looking at the different sales channels for used Class 8 vehicles, Tam said, “Channel results were oddly mixed, with auctions outperforming in the short term, but negative longer term. Retail sales were unfavorable m/m, but showed gains both y/y and year to date. Not surprisingly, wholesale transactions were lower across all three time period comparisons, as dealers compete for scarce units, resulting in rapidly rising prices.”

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